Bitcoin Hits 11-Week High as Altcoin Soars 22%

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The last time BTC traded at these levels was in early February.

The cryptocurrency market received a significant boost from recent news from the Middle East.

Bitcoin climbed above $78,000, while certain altcoins like MemeCore (M) jumped by double digits over the past day.

Another Ascent for BTC
The performance of the primary cryptocurrency has lately been closely tied to the global geopolitical tension, more specifically, the military conflict between the USA (supported by Israel) and Iran.

Several hours ago, the American President Donald Trump revealed that the ceasefire (which was supposed to end soon and be followed by renewed attacks) will be extended until the Iranian officials can come up with “a unified proposal.”

The news triggered an evident uptick for BTC, whose valuation soared to roughly $78,500, the highest since the start of February. Currently, it trades at around $78,000 (per TradingView’s data), representing a 2.5% daily increase and a 6% jump over the last week.


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