The cryptocurrency realm saw significant growth due to recent updates from the Middle East. Bitcoin has ascended above $78,000, while certain altcoins, such as MemeCore (M), have experienced gains of over 22% within just a day.

BTC’s Recent Climb

The leading cryptocurrency’s movement has been closely linked to global geopolitical tensions, particularly the conflict between the USA (along with Israeli support) and Iran.

Hours ago, President Donald Trump announced that the ceasefire, initially slated to conclude soon, would be prolonged until Iran can present a ‘unified proposal.’ This announcement has resulted in a clear surge for Bitcoin, bringing its value to approximately $78,500, marking its highest point since early February. Currently, it’s trading at around $78,000 per TradingView data, indicating a daily rise of 2.5% and a 6% increase over the past week.

BTC Price BTC Price, Source: TradingView

In the wake of this surge, Bitcoin’s market capitalization has exceeded $1.56 trillion, maintaining dominance over altcoins at around 57.8%.

Altcoin Performers

News of de-escalation has proven advantageous for many altcoins, many of which have outperformed Bitcoin on a daily basis. The top performer is MemeCore (M), whose value has inflated by 22%, reaching a record high of $4.30. This token is now the second-largest meme coin, ranking just behind Dogecoin.

Other notable altcoins include RAIN (+11%), PENGU (+7%), XMR (+7%), and BCH (+6%). On the downside, DEXE decreased by 11% within the day, followed by KAS, which saw a 2% drop, and HYPE, which fell by 1.5%.

The total market cap of cryptocurrencies has collectively risen by 1.6% over the last day, now standing at roughly $2.7 trillion.