<div id="readability-page-1" class="page"><p>After a brief dip below $75,000 early in the week, Bitcoin price has once again moved close to its monthly high.</p><p>Over the past 24 hours, the bellwether has rallied over 2% to stabilise around $77,500 on hopes that the US-Iran war situation may see a diplomatic breakthrough.</p><h2>No immediate escalation in the Middle East</h2><p>The latest relief rally was largely sparked by United States President Donald Trump extending the temporary ceasefire indefinitely as diplomatic efforts continue behind the scenes.</p><p>As per reports, this strategic pause is expected to give Tehran enough time to finalize a &#34;unified proposal&#34; essential for formal peace talks in Islamabad.</p><p>Even though tensions still remain, primarily around the Strait of Hormuz, where both the US Navy and the IRGC have maintained aggressive naval blockades, the lack of fresh kinetic strikes has reassured investors.</p><p>The absence of an imminent ground-level war has offered much-needed breathing room to the crypto markets.</p><h2>Institutional buying</h2><p>Bitcoin’s latest relief rally has also been supported by aggressive buying from the prominent institutional player and treasury firm MicroStrategy.</p><p>On April 21, MicroStrategy revealed it purchased 34,164 BTC for approximately $2.54 billion, further cementing its status as the world’s largest publicly traded Bitcoin holder with a total treasury exceeding 800,000 tokens.</p><p>Against this backdrop, spot Bitcoin ETF products in the US have also seen back-to-back inflows, which goes to show that institutional demand remains strong despite the macro turbulence.</p><p>According to SoSoValue data, since April 14, there has been no net outflow from the ETFs, indicating that long-term optimism remains strong among Wall Street fund managers.</p><p>Institutional backing is widely viewed as a sign of long-term maturity, providing a strong buy signal for the rest of the market to follow suit.</p><h2>Dollar cooling off</h2><p>Meanwhile, the US Dollar Index (DXY) has begun to retreat from its recent peaks, providing a favorable tailwind for risk assets. </p><p>As the dollar’s safe-haven rally loses steam following the ceasefire announcement, global liquidity is rotating back into hard assets like Bitcoin.</p><p> This inverse correlation is proving pivotal, as a weakening dollar historically paves the way for crypto-market expansions, especially when domestic fiscal concerns regarding US debt interest start to outweigh military spending.</p><h2>Bitcoin’s structural strength</h2><p>Even amidst the recent geopolitical shocks and supply chain fears, the Bitcoin price has managed to stay above $70,000, which is now established as a formidable psychological support area.</p><p>Market analysts contend that as long as this floor remains intact, a larger move toward new local highs may be firmly in play.</p><p>Subsequently, after its recent dip, Bitcoin quickly managed to reclaim the ground above $75,000, which has added another layer of technical validation for the current uptrend.</p><p>The post Why did Bitcoin suddenly jump to $77,500? appeared first on Invezz</p></div>

IBIT

BITU

FBTC

<p>Bitcoin's price surged to $77,500, driven by a pause in geopolitical tensions and strong institutional demand. Following a dip below $75,000, the cryptocurrency rallied over 2% amid hopes for a diplomatic breakthrough in the US-Iran conflict, aided by President Trump's indefinite ceasefire. Institutional buying, particularly from MicroStrategy, which purchased 34,164 BTC, has bolstered market confidence. Additionally, a retreat in the US Dollar Index has favored risk assets like Bitcoin, reinforcing its structural strength above the $70,000 support level, indicating potential for further gains.</p>

Invezz

iShares Bitcoin Trust ETF

ProShares Ultra Bitcoin ETF

Fidelity Wise Origin Bitcoin Fund - ETF

CAM BTC

WisdomTree Bitcoin Fund

Roundhill COIN WeeklyPay ETF

BOS HSK BTC

Grayscale Bitcoin Adopters ETF

Franklin Bitcoin ETF

VanEck Bitcoin ETF

Valkyrie Bitcoin and Ether Strategy ETF

CAM BTC-R

Bitwise Bitcoin ETF

Roundhill Bitcoin Covered Call Strategy ETF

ARK 21Shares Bitcoin ETF

ProShares UltraShort Bitcoin ETF

HGI BTC

Invesco Galaxy Bitcoin ETF

Leverage Shares 2X Long COIN Daily ETF

Direxion Daily Crypto Industry Bull2XETF

CoinShares Bitcoin ETF

CAM BTC-U

Amplify Transform Data Sharing ETF

Global X Blockchain ETF

Strategy

MicroStrategy Pref Shares MSTR 10.0 Perp

Microstrategy Inc Pref Shares STRC 9.0 Perp

MicroStrategy Pref Shares MSTR 8.0 Perp

Why did Bitcoin suddenly jump to $77,500?