Bitcoin Holds $77,500 After Late Surge Adds 1.2% to $1.55 Trillion Market
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Bitcoin Holds $77,500 After Late Surge Adds 1.2% to $1.55 Trillion Market
Bitcoin climbed to an intraday high of $77,831 on May 25, rising from just above $76,500 the previous day. The move was supported by growing optimism that Middle East peace negotiations could reduce geopolitical tensions and improve risk appetite. Bitcoin dipped to about $76,000 late Sunday before reversing sharply and adding more than $2,000 by Monday midmorning. It consolidated near $77,000 overnight, then pushed above $77,200, later breaking past $77,500 for the first time since Friday. Attempts to test $78,000 met rejection, and price stabilized around $77,500. The rally lifted 24-hour gains to 1.2% and market capitalization to about $1.55 trillion. Brent crude fell to $96, removing the oil market’s war premium, while analysts warned a potential Federal Reserve rate hike by October could undermine crypto recovery.
"Bitcoin climbed to an intraday high of $77,831 on May 25, buoyed by growing investor optimism that ongoing Middle East peace negotiations could ease geopolitical tensions and support risk appetite. Geopolitical de-escalation sent Brent crude plunging to $96, wiping out the oil market's war premium. Analysts warn that a potential Federal Reserve rate hike by October threatens the crypto recovery."
"Bitcoin surged to peak at $77,831 amid growing optimism over Middle East peace negotiations. The rally wasn't seamless, however; bitcoin initially dipped to $76,000 late Sunday before a sharp reversal added more than $2,000 by Monday midmorning. Market data shows that bitcoin consolidated near $77,000 between 8 p.m. EST Sunday and midnight, before a late-night push lifted it above $77,200."
"After holding that level until 4:50 a.m., bitcoin rallied past $77,500 for the first time since Friday. A brief retreat followed, setting up a second run that tested the $78,000 resistance level. While that peak triggered another rejection, bitcoin ultimately stabilized and consolidated around $77,500. At the time of writing (1 p.m. EST), bitcoin was again trading around this key level, having retreated from yet another attempt to test the $78,000 threshold."
"The price movement brought the cryptocurrency's 24-hour gains to 1.2 percent and lifted its market capitalization to approximately $1.55 trillion. Similar to bitcoin, oil markets reacted sharply to geopolitical developments over the weekend. Crude oil prices plunged following the Trump administration's assertion corroborated by Sunday reports out of the"
Read at news.bitcoin.com
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