. The gains came alongside a broader improvement in investor sentiment tied to signals that an ongoing geopolitical conflict may be nearing resolution.
Bitcoin News
U.S. equity markets climbed to record levels as BTC reached $75,229 on Wednesday, continuing a rally that has pushed the cryptocurrency up nearly 10% over the past two weeks. The gains came alongside a broader improvement in investor sentiment tied to signals that an ongoing geopolitical conflict may be nearing resolution.
The Nasdaq Composite closed at an all-time high of 24,016.02, up 1.59% on the day, according to Yahoo Finance data. The S&P 500 reached a record 7,022.95, posting a 0.8% gain, with the session's performance led by a 2.08% advance in tech stocks overall.
BTC rose 1.07% over the prior 24 hours to touch $74,554. The move extended a two-week run of gains as investors priced in the possibility of a de-escalation in geopolitical tensions that have weighed on markets in recent months.
Fundstrat Chief Investment Officer Tom Lee said in an appearance on CNBC's "Closing Bell" on Wednesday that U.S. equities remain in a strong position despite ongoing geopolitical tensions. He argued that some investors are still on the sidelines waiting for clearer signals, and that their eventual re-entry could extend the current rally.
Lee posted on X that "stocks bottom on bad news," not good news, suggesting the current market structure is constructive even without a full resolution to the conflict. He added that the next leg higher is likely to be led by crypto assets, including BTC and ETH, alongside the Magnificent Seven tech stocks and the broader software sector.
The convergence of equity and crypto gains reflects a risk-on shift that analysts have linked to reduced uncertainty in global markets. Whether the momentum holds will depend in part on how geopolitical developments unfold in the coming days.
Ether open interest rose 26% during the same period, according to separate market data, suggesting traders are also increasing directional exposure to ETH as Bitcoin consolidates near the $75,000 level.
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