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>>Bitcoin rises to $72K as the US‑Iran ceasefire fuels optimism for ending the war: Your weekly crypto summary

Bitcoin rises to $72K as the US‑Iran ceasefire fuels optimism for ending the war: Your weekly crypto summary

crypthub

2 days ago

US‑Iran Ceasefire and Bitcoin Surge

The United States and Iran announced a 14‑day cease‑fire, prompting immediate market moves. Bitcoin rose to about $72,000, marking a 7.4% weekly gain. Oil prices fell as the Strait of Hormuz remained only partially open, keeping geopolitical uncertainty high.

Weekly Crypto Market Snapshot

Total crypto market cap sits at $2.53 trillion with 24‑hour volume near $96 billion. Bitcoin dominates at 57.2%, trading around $72,200 (+7.4%), while Ethereum is $2,220 (+6.8%) and XRP $1.34 (+1.4%). Smaller coins saw sharp gains, with HYPE up 14% and ZEC soaring 60% to over $375.

Regulatory and ETF Highlights

Japan passed legislation that classifies cryptocurrencies as financial instruments, boosting investor protection. Morgan Stanley launched its spot Bitcoin ETF, achieving roughly $34 million in first‑day trading volume. Both moves signal growing institutional acceptance of digital assets.

Other Notable Developments

Iran reportedly will require BTC for tolls through the Hormuz Strait, adding a new use case for the currency. Hong Kong granted its first stablecoin licenses to an HSBC and Standard Chartered‑led consortium. Cardano whale wallets hit a four‑month peak despite a 3% monthly price decline, and Michael Saylor’s Strategy added 4,871 BTC (~$330 million) to its holdings.