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Bitcoin prices surged to reach their highest level in a month at $75,000 after rising by more than $4,000 in 24 hours, driven by improving sentiment related to geopolitical developments.
The gains came after new reports suggested a possible resumption of talks between the United States and Iran, which restored positive momentum in the market.
The currency has seen wild swings over the past few days, rising to $74,000 before falling to around $70,500 after talks broke down before rising again on the back of strong buying.
Bitcoin’s market capitalization has risen to approximately $1.5 trillion, and its market dominance has increased to more than 57%.
On the other hand, alternative currencies saw broad gains, with Ethereum rising over 9% to hit $2,400 levels for the first time in more than two months.
XRP and BNB also continue to compete for fourth place, with similar gains.
Several other currencies recorded significant gains, with RAVE topping the list with a massive gain of around 60%.
Overall, the cryptocurrency market added over $100 billion in one day, bringing its total value to over $2.6 trillion.
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