Bitcoin maintained modest gains on Wednesday after ending a five-month losing streak in March, boosted alongside other risk assets by US President Donald Trump’s announcement that he intends to end the war in Iran within weeks.
The cryptocurrency rose as much as 1.5% in early European trading before easing slightly, hovering around $68,500 at 11:40 a.m. in London, News.Az reports, citing Bloomberg.
Ether, the second-largest token, remained above $2,100.
Bitcoin climbed 2.2% in March, its first monthly gain since September, sparking optimism that digital assets may be emerging from the “crypto winter” triggered by a price crash in October. Trump’s remarks on Tuesday about a near-term US exit from the Iran war also lifted equities, despite the Strait of Hormuz remaining closed.
Bitcoin benefited from $1.2 billion in net inflows into US exchange-traded funds in March, ending a four-month streak of outflows. The token remained steady through most of last month even as equities and gold fell on inflation fears driven by rising energy prices. Still, Bitcoin remains about 45% below its all-time high of over $126,000 reached before the October selloff.
Investors continue to hedge against downside risk. Crypto options platform Deribit shows more than $1.5 billion in put contracts at $60,000, indicating bets that the token could test those levels again.