Bitcoin Surges on Ceasefire, ETF Debut

Bitcoin experienced a significant surge, climbing past $71,600, driven by a temporary ceasefire between the U.S. and Iran which eased geopolitical tensions and led to a sharp decline in oil prices. This reduction in inflation fears and potential easing of Fed rate hikes has boosted market confidence. Further support comes from Morgan Stanley's planned Bitcoin ETF debut, signaling growing institutional adoption. While the market shows renewed strength with Bitcoin clearing its 50-day moving average and eyeing higher targets, caution remains due to the temporary nature of the ceasefire and the potential for short-covering rallies to fade without sustained demand.