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Bitcoin held above $78,000 as military tensions between the United States and Iran flared again and global oil prices extended a four-day surge.
According to CoinMarketCap, bitcoin was trading at $78,266 as of 8 a.m. on the 24th, down 0.43% from a day earlier.
Major altcoins also weakened. Solana fell 1.37% to $86.20, and ether slid 2.72% to $2,333.09. XRP edged up 0.03% to $1.43.
Market participants said the standoff around the Strait of Hormuz capped gains. President Donald Trump wrote on Truth Social on the 23rd that he had ordered any vessel laying mines in the strait to be sunk without hesitation.
Oil prices jumped 3.1% from the previous day, and the broader geopolitical risk weighed on sentiment, limiting bitcoin’s upside, the report said.
Still, bitcoin stayed near the $78,000 level after Strategy, the publicly listed company that holds the most bitcoin, bought about $2.5 billion worth from the 12th to the 19th, local time.
In South Korea, bitcoin was trading at about 116.30 million won ($78,395) on Bithumb at the same time, up 0.19% from a day earlier. The so-called kimchi premium, when domestic prices exceed overseas prices, stood at 0.304%.
* This article has been translated by AI.
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