Bitcoin Holds Above $78K Amid Geopolitical Uncertainty
Bitcoin remained stable above the $78,000 level on Thursday, as investors balanced ongoing geopolitical tensions in the Strait of Hormuz against a temporary easing in conflict following a U.S.-Iran ceasefire extension.
The leading cryptocurrency was last trading 0.2% higher at $78,166.2 during early trading hours. Prices had previously surged past $79,000 on Wednesday, marking their strongest level since early February.
US-Iran Tensions Persist Despite Ceasefire Extension
U.S. President Donald Trump extended the ceasefire with Iran earlier this week, stepping back from potential military escalation. However, uncertainty remains as Tehran has yet to formally accept the extension and continues to criticize the ongoing U.S. naval blockade impacting its trade routes.
Adding to tensions, Iran’s Revolutionary Guard seized two container ships in the Strait of Hormuz and reportedly fired upon additional vessels in the region. These developments have reinforced concerns over disruptions in one of the world’s most critical energy corridors.
Oil Prices Stay Elevated, Markets React
The ongoing standoff has kept global energy markets under pressure, with oil prices holding above $100 per barrel. Broader financial markets reflected this cautious sentiment, as Asian equities and Wall Street futures moved lower during Thursday’s session.
Institutional Demand Supports Crypto Market
Despite risk-off sentiment in traditional markets, cryptocurrencies showed resilience. Renewed institutional interest has provided underlying support, particularly as major players continue accumulating digital assets.
MicroStrategy, led by Michael Saylor, continued its aggressive Bitcoin buying strategy, announcing another multi-billion-dollar purchase this week.
GSR Launches New Crypto ETF
GSR entered the asset management space with the launch of its first exchange-traded fund, the Crypto Core3 ETF (BESO).
The fund provides actively managed exposure to Bitcoin, Ethereum, and Solana, while also seeking additional returns through staking strategies. The ETF will rebalance weekly based on proprietary research signals and carries a 1% management fee, targeting investors seeking diversified crypto exposure.
Altcoins Decline as Risk Sentiment Weakens
Most altcoins traded lower on Thursday as rising oil prices dampened overall risk appetite.
Ethereum dropped 1.7% to $2,350.41, while XRP fell 2.3% to $1.42. Cardano declined by 3%, with Polygon and Solana each losing around 2%.
Among meme coins, Dogecoin slipped 1.5%, reflecting broader weakness across the crypto market.
