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Ethereum, Ripple, etc. all rise uniformly…"Risk-on sentiment recovers"
Cryptocurrency prices surged amid expectations that negotiations to end the Iran war could resume.
According to U.S. economic media outlets such as Fortune and Investing.com, Bitcoin, a leading cryptocurrency, surpassed $75,000 (110.4 million won) on the morning of the 14th (local time).
This was a surge of approximately 5% compared to the price 24 hours prior, reaching its highest price in about a month.
Ethereum's price also rose 7% to $2,400, its highest in two months. Ripple, the third-largest cryptocurrency, rose 3%, while Solana and Dogecoin increased by 4% and 5%, respectively.
The total cryptocurrency market size increased by 4% to $2.6 trillion.
This rally was observed as the entire financial market stirred with expectations that the long-standing Iran war could end.
Although the peace talks between the United States and Iran held in Islamabad, Pakistan, on March 11-12, failed, it is reported that behind-the-scenes negotiations between the two countries are still ongoing.
As reports continue that a second round of negotiations will take place in Islamabad soon, U.S. President Donald Trump also hinted at the possibility of resuming negotiations in an interview with the New York Post, saying, "Something could happen in the next two days."
The financial market also welcomed the news, with the Standard & Poor's (S&P) 500 index and Nasdaq showing an upward trend. Among these, cryptocurrency prices, classified as risky assets, appear to have reacted even more sensitively.
Alex Kuptsikevich, senior market analyst at FxPro, explained, "The recovery of risk-on sentiment in traditional financial markets led to the rise in cryptocurrencies."
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