Bitcoin Rebounds Above $78,000
Bitcoin moved higher on Friday, climbing back above the $78,000 level after recent losses. The recovery comes as improving global risk sentiment boosted demand for cryptocurrencies alongside equities.
The digital asset was last trading 2.4% higher at $78,281, rebounding from earlier weekly lows near $75,000.
April Rally Driven by Macro Optimism
Bitcoin recorded a strong 12% gain in April, supported by optimism surrounding a temporary U.S.-Iran ceasefire and continued record highs in global stock markets.
Earlier in the month, Bitcoin briefly surpassed $79,000 amid hopes of easing geopolitical tensions and increased institutional inflows into the crypto market.
$80,000 Remains Key Resistance Level
Despite the rebound, the $80,000 level continues to act as a major resistance point for Bitcoin. Recent rallies have repeatedly stalled near this level, making it a critical short-term hurdle for further upside.
Crypto Market Follows Equity Strength
Investor sentiment has been reinforced by strong performance in equity markets. Major indices such as the S&P 500 and Nasdaq Composite have reached record highs in recent sessions, increasing appetite for risk assets like cryptocurrencies.
Positive corporate earnings also contributed to the bullish mood, with Apple reporting strong results driven by solid iPhone demand and record services revenue.
Bitcoin Increasingly Tied to Macro Trends
Analysts note that Bitcoin is increasingly moving in line with broader macroeconomic trends, behaving similarly to equities during periods of strong liquidity and investor optimism.
Geopolitical Risks Limit Upside
However, further gains remain constrained by ongoing geopolitical uncertainty. Reports indicated that Donald Trump is set to receive a briefing on potential military actions against Iran, raising concerns about possible escalation.
Iran has warned that any new U.S. strike could lead to retaliatory attacks on American interests in the region.
Meanwhile, the Strait of Hormuz remains effectively closed, adding pressure to global energy markets. Brent crude prices surged above $126 per barrel before pulling back later in the session.
Altcoins Trade Higher in Mixed Market
Other major cryptocurrencies also posted gains in relatively range-bound trading.
Ethereum rose around 2% to $2,308, while XRP gained 1.5% to $1.39.
Solana and Cardano each added over 1%, while Polygon edged slightly lower.
Among meme coins, Dogecoin climbed 2.3%.
