Bitcoin rises as risk appetite improves due to ceasefire in Iran war

After President Trump announced a ceasefire with Iran two weeks ago, risk appetite has rebounded and Bitcoin has continued to rise after hitting a three-week high overnight. Trump stated that he agreed to suspend attacks on Iran, on the condition that the Strait of Hormuz be reopened for passage. Iran has agreed to allow safe passage for ships through the strait and has stated that negotiations with the United States will begin on Friday. Analysts at Deutsche Bank said in a report, "Investors will breathe a sigh of relief as there is now an exit strategy from the war, although there are still multiple factors to consider in determining whether this will lead to a sustained cooling of tensions." Data from the London Stock Exchange Group shows that Bitcoin has risen by 3.7% to $71,825, after reaching $72,679 overnight.