Bitcoin, Ethereum approach two-month highs as markets grow optimistic over U.S.-Iran peace negotiations

Crypto markets are betting that the U.S. and Iran war may be progressing towards peace. Bitcoin rose 5% over the past 24 hours to around $75,000 early Tuesday afternoon, nearing its highest mark since early February, according to data from Binance. The world’s second largest cryptocurrency, Ethereum, notched an even bigger day-over-day jump, rising 7% to almost $2,400 to record a two-month high.

The total market capitalization of all cryptocurrencies rose 4% to $2.6 trillion, mirroring gains in the stock market. On Tuesday morning, the S&P 500 increased 1%, and the Nasdaq jumped nearly 2%. “The rise in cryptocurrencies was driven by an impressive recovery in risk appetite in traditional financial markets,”........

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