Bitcoin Hits $78K As Trump’s Strait Of Hormuz News Ignites Crypto Rally
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Bitcoin surged to $78,100 after US President Donald Trump announced the Strait of Hormuz was open, sparking a crypto rally. The market saw a significant move upward, with other cryptocurrencies like XRP and Ethereum also gaining value.
The cryptocurrency market saw a sharp move upward on Friday morning, driven by geopolitical headlines. Bitcoin climbed to $78,100 after US President Donald Trump announced the Strait of Hormuz was open. Other cryptocurrencies, including XRP and Ethereum, also rose, with XRP trading near $1.49 and Ethereum between $2,355 and $2,440. Despite the rally, professional traders remain cautious, with the Crypto Fear and Greed Index indicating 'extreme fear'. Analysts suggest that if the momentum holds, Bitcoin could target $80,000 to $85,000 by the end of April. The market is also seeing corporate and regulatory moves, with Canary Capital filing for a spot PEPE ETF and Kraken's parent company acquiring Bitnomial for $550 million.
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