Thanks to Diplomatic Thaw... Bitcoin Surpasses $76,000, Challenges All-Time High

▲ Bitcoin (BTC)/ChatGPT generated image

Bitcoin (BTC) is strengthening its upward trend, breaking the $76,000 mark, driven by expectations of easing diplomatic tensions between the US and Iran and the possibility of policy changes.

According to cryptocurrency specialized media Investing.com on April 21 (local time), Bitcoin rose approximately 2.3% over the past 24 hours, recording $76,211.3. The virtual asset market is reacting sensitively to signs of easing geopolitical risks, with buying interest rapidly flowing in. The price is continuously breaking through key resistance levels, building upward momentum.

In particular, news of unofficial talks between the US and Iran significantly changed the market sentiment. As expectations grew that the conflict between the two countries could be resolved diplomatically, investment sentiment improved across risk assets. Consequently, there is a clear trend of liquidity shifting towards the virtual asset market, including Bitcoin.

Expectations are also reflected on the policy front. With former Federal Reserve Governor Kevin Warsh being mentioned as a key economic policy figure, interest in potential changes to the regulatory environment is growing. The market believes that if Warsh's policy stance is confirmed to be pro-market, the upward trend could strengthen further.

Investor sentiment is also rapidly improving. The market appears to be moving from a fear phase to a greed phase. Analysis suggests that Bitcoin is likely to attempt to break the $76,600 resistance level in the short term. Stablecoin inflows are supporting the downside, and continuous accumulation by institutional investors is also acting as an upward factor. The shortage of supply within exchanges is also identified as a key variable increasing price upward pressure.

Ultimately, this surge is interpreted as a result of intertwined expectations for macroeconomic stability and changes in policy variables. Market participants view diplomatic progress and the direction of key figures as crucial variables that will determine future price movements. Bitcoin is accumulating energy for a re-break of its all-time high, attempting to settle into a new price range.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*