{"id":127688,"date":"2026-05-29T14:24:13","date_gmt":"2026-05-29T10:24:13","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=127688"},"modified":"2026-05-29T14:24:16","modified_gmt":"2026-05-29T10:24:16","slug":"bitcoin-bounces-back-to-74k-as-iran-ceasefire-extension-lifts-risk-appetite-but-82k-peak-feels-far-away","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bitcoin-bounces-back-to-74k-as-iran-ceasefire-extension-lifts-risk-appetite-but-82k-peak-feels-far-away\/05\/29\/market-updates\/","title":{"rendered":"Bitcoin Bounces Back to $74K as Iran Ceasefire Extension Lifts Risk Appetite: But $82K Peak Feels Far Away"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bitcoin rebounds:<\/strong> The world&#8217;s largest crypto rose 0.8% to $73,736.6 after sliding near $72,500 in the previous session.<\/li>\n\n\n\n<li><strong>Weekly and monthly losses:<\/strong> Bitcoin is still on track for a 4% weekly loss and a 4% monthly decline.<\/li>\n\n\n\n<li><strong>Ceasefire extension reported:<\/strong> Reports of a 60-day U.S.-Iran ceasefire extension and Hormuz shipping relief drove the recovery.<\/li>\n\n\n\n<li><strong>Awaiting Trump&#8217;s approval:<\/strong> The proposal still needs final sign-off from the president.<\/li>\n\n\n\n<li><strong>Prior session pressure:<\/strong> Fresh U.S. military strikes on Iranian-linked targets had sent Bitcoin tumbling as investors fled to safe havens.<\/li>\n\n\n\n<li><strong>PCE inflation weighs:<\/strong> April PCE rose 3.8% year-on-year \u2014 its fastest pace in roughly three years \u2014 reinforcing higher-for-longer rate bets.<\/li>\n\n\n\n<li><strong>Rate pressure on crypto:<\/strong> Elevated interest rate expectations continue to reduce demand for speculative assets.<\/li>\n\n\n\n<li><strong>Still well below May peak:<\/strong> Bitcoin remains far below its $82,000+ high from earlier this month.<\/li>\n\n\n\n<li><strong>ETF exodus continues:<\/strong> Crypto ETF outflows exceeded $2.5 billion over the past two weeks amid geopolitical uncertainty.<\/li>\n\n\n\n<li><strong>Altcoins rebound:<\/strong> Ethereum rose 1.6% to $2,014.92, XRP climbed 2.3% to $1.32, Cardano advanced 2.6%, while Solana and Polygon each gained 1%.<\/li>\n\n\n\n<li><strong>Dogecoin rises:<\/strong> The leading memecoin added 1.7%.<\/li>\n<\/ul>\n\n\n\n<p>Bitcoin rebounded toward $74,000 on Friday after sliding to a near seven-week low in the previous session, as reports that the United States and Iran were close to extending a ceasefire agreement helped improve appetite for riskier assets.<\/p>\n\n\n\n<p>The world&#8217;s largest cryptocurrency rose 0.8% to $73,736.6 by 02:17 ET (06:17 GMT).<\/p>\n\n\n\n<p>Bitcoin fell near $72,500 in the previous session and was headed for a 4% weekly loss. It was also on track for a 4% monthly decline.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">U.S. and Iran Reportedly Close to Extending Ceasefire<\/h2>\n\n\n\n<p>Investor sentiment improved after reports that Washington and Tehran had agreed in principle to extend a 60-day ceasefire and ease restrictions on shipping through the Strait of Hormuz, although the proposal still awaits final approval from U.S. President Donald Trump.<\/p>\n\n\n\n<p>The easing of Middle East tensions helped lift global equities and pressured oil prices lower, encouraging traders to rotate back into higher-risk assets, including cryptocurrencies.<\/p>\n\n\n\n<p>Bitcoin had come under pressure in the previous session after fresh U.S. military strikes on Iranian-linked targets triggered a rush toward traditional safe havens.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Inflation and Rate Pressures Linger<\/h2>\n\n\n\n<p>Market participants were also digesting U.S. inflation data released on Thursday that reinforced expectations the Federal Reserve could keep interest rates elevated for longer.<\/p>\n\n\n\n<p>The personal consumption expenditures price index \u2014 the Federal Reserve&#8217;s preferred inflation gauge \u2014 rose 3.8% year-on-year in April, marking its fastest pace in roughly three years.<\/p>\n\n\n\n<p>Higher-for-longer interest rate expectations have weighed on cryptocurrencies this year by reducing demand for speculative assets.<\/p>\n\n\n\n<p>Despite Friday&#8217;s rebound, Bitcoin remains well below its May peak above $82,000 and is on track for a monthly decline as institutional investors continue pulling funds from spot Bitcoin ETFs.<\/p>\n\n\n\n<p>Data compiled by market trackers showed crypto ETF outflows exceeded $2.5 billion over the past two weeks amid heightened geopolitical uncertainty.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Crypto Price Today: Altcoins Rebound Slightly<\/h2>\n\n\n\n<p>Most altcoins rose on Friday after sharp declines in the previous session.<\/p>\n\n\n\n<p>Ethereum, the world&#8217;s second-largest cryptocurrency, rose 1.6% to $2,014.92.<\/p>\n\n\n\n<p>XRP, ranked third globally, climbed 2.3% to $1.32.<\/p>\n\n\n\n<p>Solana and Polygon rose 1% each, while Cardano advanced 2.6%.<\/p>\n\n\n\n<p>Among meme tokens, Dogecoin rose 1.7%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Bitcoin rebounds: The world&#8217;s largest crypto rose 0.8% to $73,736.6 after sliding near $72,500 in the previous session. Weekly and monthly losses: Bitcoin is still on track for a 4% weekly loss and a 4% monthly decline. Ceasefire extension reported: Reports of a 60-day U.S.-Iran ceasefire extension and Hormuz shipping relief drove the &hellip;<\/p>\n","protected":false},"author":9,"featured_media":127127,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,36],"tags":[],"class_list":["post-127688","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=127688"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127688\/revisions"}],"predecessor-version":[{"id":127689,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127688\/revisions\/127689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/127127"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=127688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=127688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=127688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}