Bitcoin surged past $72,000 Tuesday evening after President Donald Trump announced a temporary ceasefire with Iran. The development sent the cryptocurrency nearly 5% higher, with market capitalization climbing to approximately $2.43 trillion as investors re-entered risk assets.
Experts noted significant buys from major exchanges and market-makers immediately following the announcement. Binance, Coinbase, Kraken, Wintermute, and Bybit collectively acquired roughly $4.5 billion in Bitcoin.
The cryptocurrency faces resistance at the $74,000 level. A sustained break above this mark would strengthen the bullish outlook, while failure to do so could signal waning buying demand.