Bitcoin rose above $78,000 on Wednesday after renewed easing in Middle East tensions supported risk appetite across digital assets.

The move came after US President Donald Trump said the ceasefire with Iran would be extended, while market participants also reacted to Strategy’s latest Bitcoin purchase.

The broader crypto market moved higher alongside Bitcoin. Total market value climbed above $2.7 trillion, while Ethereum, Monero, Bitcoin Cash, $BNB, and Solana also posted gains. At the same time, leveraged traders faced heavy losses as liquidations neared $500 million over the past 24 hours.

Ceasefire extension supports market rebound

The latest price move followed comments from Trump on the conflict involving Iran. He said the…