Bitcoin climbed to nearly $76,000 during U.S. trading on Tuesday, marking its strongest performance since the February 5 crash that saw prices plummet to $60,000.
Optimism regarding developments in the Middle East has triggered a broader rally across risk markets. The movement followed a sharp decline in oil prices, with WTI crude dropping 6% to $93 per barrel.
Crypto-related equities tracked the digital asset's upward momentum. MicroStrategy (MSTR) rose 7.6%, while Coinbase (COIN) gained 6.2% and Galaxy Digital (GLXY) climbed 8.3%.
Bitcoin miners also saw significant gains. Keel Infrastructure (KEEL), formerly Bitfarms, surged 20.5%, as the company continues to pivot toward AI-related data center operations.
Market Re-engagement
Market sentiment appears to be shifting toward broader participation. The Nasdaq reached its highest level since early February, providing a supportive backdrop for the crypto sector.
"Overall, the past 24 hours reflect a market that is beginning to show signs of re-engagement," said Joel Kruger, market strategist at LMAX Group.
Kruger noted that ether (ETH) outperformed bitcoin during the session, signaling a strong risk-on tone across the entire digital asset market.
However, technical resistance remains a hurdle for the current rally. Kruger identified the $76,000 level—where the mid-March rebound previously stalled—as a critical test for bulls.
Sustained strength in ether alongside a decisive break above $76,000 will determine if this rebound can establish a durable bullish trend, Kruger added.
