Bitcoin (COIN:BTCUSD) held firm on Thursday after improving market sentiment and optimism around potential regulatory progress helped fuel a strong rebound in the world’s largest cryptocurrency, although uncertainty tied to the Iran conflict continued to weigh on investor confidence.
Bitcoin advanced more than 5% to $72,366.1 by 01:28 ET, after climbing to a one-month peak of $73,243 during Wednesday’s session.
The cryptocurrency later trimmed part of its advance after U.S. stock index futures slipped into negative territory early Thursday, as ongoing tensions involving the United States, Israel and Iran kept markets cautious.
A sharp jump in oil prices also heightened worries about the conflict’s potential to push inflation higher.
Bitcoin gains with help from Wall Street, Trump remarks
Bitcoin rallied strongly on Wednesday, extending earlier gains this week as a positive trading day on Wall Street lifted appetite for risk assets. Bargain hunting also supported the move after the cryptocurrency suffered steep declines in February.
Crypto markets also drew support after U.S. President Donald Trump urged lawmakers to fast-track a long-delayed bill designed to establish a regulatory framework for digital assets, while criticizing major U.S. banking groups for opposing yield payments on stablecoins.
Trump’s remarks raised expectations that the cryptocurrency industry could receive a more supportive regulatory environment in the United States. However, there was little sign of immediate progress toward passing the CLARITY Act, legislation intended to define the industry’s market structure.
Bitcoin also benefited from overnight gains on Wall Street after reports suggested Iran had reached out to Washington seeking dialogue, which briefly boosted hopes that the conflict might ease.
Those hopes faded after Tehran denied the reports and launched a fresh missile barrage toward Israel early Thursday, tempering the improvement in risk appetite.
Ray Dalio says Bitcoin is no gold
Billionaire hedge fund manager Ray Dalio reiterated his criticism of Bitcoin earlier this week, arguing that the cryptocurrency should not be compared with gold because it lacks support from central banks, provides no real privacy and remains exposed to potential breakthroughs in quantum computing.
“A lot of attention has been given to Bitcoin, but as a money, it’s small in relationship to gold… there is only one gold,” Dalio said.
Speaking during a podcast interview, the founder of Bridgewater Associates questioned Bitcoin’s role as a safe-haven asset and also warned about possible privacy vulnerabilities.
Dalio has long been critical of Bitcoin. But in 2025 he said he holds roughly a 1% allocation to the cryptocurrency in his portfolio and suggested investors consider allocating around 15% to Bitcoin or gold amid rising concerns about a potential U.S. debt crisis.
Crypto price today: altcoins follow Bitcoin higher, recover February losses
Other cryptocurrencies also moved higher on Thursday, tracking Bitcoin’s rally as the broader digital asset market recovered part of the losses recorded in the previous month.
The world’s second-largest cryptocurrency, Ethereum, gained 7.5% to $2,128.35, while XRP climbed 4.7% to $1.4238.
Solana, Cardano and BNB rose between 3% and 7%.
Among meme coins, Dogecoin jumped 8%, while Official Trump added 2.2%.
Leave a Reply