Bitcoin Tops $78K as U.S. Extends Iran Ceasefire

Bitcoin climbed to $78,280.50 on Wednesday after the White House announced an extension of a ceasefire with Iran. The announcement coincided with gains in U.S. stock futures and a rebound in gold above $4,770 an ounce.

Bitcoin rose 2.62% to $78,280.50 and Ether gained 3.71% to $2,400.81. Solana increased 3.09% to $88.39 and XRP rose 1.16% to $1.4529. Total crypto liquidations jumped 67.26% to $419.09 million. The average relative strength index across major coins was 54.6 and the Altcoin Season Index stood at 34.

In U.S. trading, S&P 500 futures were up 0.7%, Nasdaq 100 futures rose 0.9% and Dow futures gained about 335 points, or 0.7%. West Texas Intermediate futures traded at $89.07 a barrel, down 0.67%, while Brent crude was at $98.01, down 0.48%.

Gold recovered after a prior session drop, rising about 1.1% to trade above $4,770 an ounce.

Asian markets were mixed. Japan’s Nikkei 225 closed at a record, up 0.4% at 59,585.86. South Korea’s Kospi rose 0.46% to 6,417.93 and the Kosdaq added 0.18%. Mainland China’s CSI 300 gained 0.66% to 4,799.62. Hong Kong’s Hang Seng fell 1.19% in the final hour of trading. India’s Nifty 50 slipped 0.59%; HCL Technologies dropped 8.87% after its fourth-quarter results missed expectations. Australia’s S&P/ASX 200 declined 1.18% to 8,843.6.

Last week the S&P 500 erased earlier losses tied to the conflict and finished above 7,100 for the first time, and the Nasdaq Composite also reached record levels.

The surge in crypto liquidations reflected closures of leveraged positions as prices moved higher, which can amplify intraday volatility in digital-asset markets. The neutral readings on the RSI and the Altcoin Season Index indicate momentum was not extreme across major tokens.

The White House said the ceasefire extension followed diplomatic efforts to reduce hostilities in the region. Market reactions to the announcement unfolded quickly across asset classes in the hours after the statement.