The price of Bitcoin and other cryptocurrencies was rising sharply Wednesday amid relief after the U.S. and Iran agreed a 14-day cease-fire pending negotiations to secure a permanent peace deal.

Bitcoin was up 5% at around $71,842 early Wednesday. The world's largest crypto is at its highest level since mid-March.

Among other cryptocurrencies, Ethereum was rising 7.7%, XRP was gaining 5.5%, and Solana was rising 6.5%. Dogecoin, which is a memecoin, was up 4.4%.

Cryptocurrencies have generally traded as high-volatility risk assets in recent months and have dropped amid fighting in the Middle East. Bitcoin is down sharply from its record high of above $126,000 back in October last year.

Crypto-related stocks were gaining. Strategy, the largest corporate holder of Bitcoin, was rising 6.7% Cryptocurrency exchange Coinbase Global was up 4.9%.

Write to Adam Clark at adam.clark@barrons.com

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source: https://www.tradingview.com/news/DJN_DN20260408001444:0/