On Monday, cryptocurrency markets recorded their strongest weekly gains since the beginning of the conflict between the USA, Israel, and Iran. Bitcoin briefly broke through the $74,000 mark, while oil prices remained elevated due to attacks on Iranian infrastructure and tensions around the Strait of Hormuz.

Bitcoin and Altcoins Post Significant Gains

Bitcoin rose above $74,000 on Monday morning, gaining 2.9 percent within 24 hours. On a weekly basis, the increase was 9.7 percent. This marked the largest cryptocurrency breaking through an important resistance zone after four failed attempts over two weeks, before the price fell slightly below this level again.

Other major cryptocurrencies also recorded substantial gains. An overview…