Bitcoin rises to $74,901 after Trump says Iran sought talks
Business
bitcoin shot up to $74,901 on Tuesday, its best in a month, before settling near $74,400.
The rally came after President Trump said Iran had reached out to his administration for potential peace talks, even with a US naval blockade in place.
ether also got a lift, jumping 5% to $2,370. The crypto market clearly liked the idea of possible de-escalation.
Clarity Act could determine bitcoin gains
Damien Loh from Ericsenz Capital pointed out that bitcoin has been moving alongside other risk assets lately.
Since late February, bitcoin's up more than 10%, while gold dropped almost 10%.
Loh added that future gains for bitcoin could depend on whether the US passes the Clarity Act, a new set of rules for digital assets that's still in the works.