Bitcoin rose by up to 6% on Wednesday, briefly exceeding $71,890 and reaching its highest point in nearly a month.
Broader crypto markets also rebounded, recovering from a selloff sparked by the escalating conflict in the Middle East and overcoming earlier losses in other asset classes.
Ether increased by 6.3%, reaching $2,092.
Bitcoin’s rise follows a turbulent few days after US and Israeli forces attacked Iran, causing its price to dip to as low as $63,038.
Based on Bloomberg data, investor confidence in crypto has rebounded since then, with US spot Bitcoin ETFs attracting more than $680 million in inflows on Monday and Tuesday.
In a Wednesday post on X, Coinbase co-founder and CEO Brian Armstrong stated, “The foundations for crypto have never been stronger.”
Bitcoin has declined approximately 18% year to date.
By CEO NA Editorial Staff
