Bitcoin and Ethereum recover morning declines amid investor optimism over potential swift resolution to Iran conflict.
Bitcoin (BTC-USD) opened at $76,757.31, down 0.3% from Tuesday, before climbing to $77,428.64 by 7:00 a.m. ET. Ethereum (ETH-USD) followed a similar pattern, starting at $2,110.07, 0.9% lower, then rising to $2,128.62.
Both cryptocurrencies have trended lower this week but showed signs of recovery. Bitcoin remains down 4.6% over the past week and 27.3% year-over-year, while Ethereum has fallen 7.2% week-over-week and 16.6% annually. Bitcoin’s all-time high stands at $126,198.07, with Ethereum peaking at $4,953.73.
Investors are reacting to signals of a potential de-escalation in Iran, including the president’s remarks on a quick resolution and Senate action on a joint resolution.