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Bitcoin climbed to about $77,500 as traders reacted to President Trump’s decision to extend the Iran cease-fire and to Strategy’s disclosed purchase of 34,164 bitcoins worth $2.54 billion, its largest buy since 2024.
The acquisition lifts Strategy’s holdings to 815,061 bitcoins, putting the position modestly in profit. The move also coincides with $1.4 billion in weekly inflows to global crypto funds, led by bitcoin and ether.
Bitcoin topped $78,000 on Wednesday morning, up 2.2% over 24 hours and 4.3% on the week, after Trump said he would extend the Iran ceasefire indefinitely and Strategy reported its purchase of 34,164 BTC for $2.54 billion.
Ether rose 2.1% to $2,366, BNB climbed 1.3% to $640, and Solana gained 1.8% to $87. Among the top 10, the only declines were small moves in stablecoins and Tron, down about 0.1%.
In traditional markets, S&P 500 futures rose 0.5% and Nasdaq 100 futures gained 0.6% following the cease-fire extension, though the underlying benchmarks closed lower Tuesday as talks briefly wobbled. Brent crude hovered near $98 a barrel. The MSCI Asia Pacific Index slipped 0.7% as investors weighed how long the Middle East conflict runs.
Trump said negotiation collapses were driven by what he called a “seriously fractured” leadership structure in Tehran. He added that the U.S. would hold off on fresh attacks while keeping its Strait of Hormuz blockade in place.
Strategy’s purchase is the largest bitcoin acquisition by the company since November 2024. The 34,164 BTC bought at an average $74,395 per coin brings Strategy’s holdings to 815,061 BTC.
Strategy previously bought the position for $61.6 billion at an average cost basis of $75,527. With bitcoin at $77,541, the holdings are now modestly in profit for the first time in months.
CoinShares data showed global crypto funds pulled in $1.4 billion last week, the strongest inflow week since mid-January. Bitcoin received $1.12 billion, Ethereum $328 million, Chainlink $5 million, and Sui $2 million. XRP saw $56 million in outflows and Solana $2 million, despite both trading higher on price.
Analysts cited two structural signals. First, bitcoin is holding above the realized price of short-term holders at around $69,400, described by analyst Darkfost as the level where recent buyers are sitting on gains rather than losses, which historically reduces the odds of a liquidation cascade if sentiment reverses.
Second, a Nomura survey found 65% of Japanese institutional investors now hold bitcoin for portfolio diversification. The survey also reported that 31% view the market outlook positively, with most planning 2% to 5% allocations over the next three years.
Analysts said bitcoin’s move above key short-term holder levels and rising institutional adoption reduce near-term liquidation risk. However, a sustained rally may depend on clearing $80,000 and on developments related to the Strait of Hormuz.
Whether bitcoin can hold $77,000 through the European session depends on how markets price the cease-fire extension against continued Strait of Hormuz disruption. A break above $80,000 would signal that 46-day funding rate compression is flipping into a short squeeze, while a move below $75,000 would suggest the cease-fire extension is already priced in and the rally needs a new catalyst.
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