Bitcoin settles below $75,000 on track for third weekly profit in row on Iran truce hopes

Bitcoin stabilized on Friday slightly below the $75,000 level, heading toward its third consecutive weekly gain, supported by a rally in high-risk assets amid hopes for the resumption of talks between the United States and Iran over the weekend.

The world’s largest digital currency, Bitcoin, fell by 0.3% to $74,790.8 by 02:23 AM ET (06:23 GMT), but remains on track for weekly gains of approximately 5%.

Despite this positive performance, Bitcoin struggled to decisively break through the psychological $75,000 level, after briefly exceeding it earlier in the week.

Support from Hopes of Geopolitical De-escalation

Market sentiment improved, supported by receding geopolitical risks, following the entry into force of a U.S.-mediated 10-day ceasefire between Israel and Lebanon, aimed at halting hostilities and opening the way for further negotiations.

This temporary truce, which can be extended by mutual agreement, helped calm fears of an expanding conflict in the region, which had negatively impacted markets earlier.

U.S. President Donald Trump also signaled the possibility of resuming talks between Washington and Tehran as early as this weekend, bolstering hopes for broader de-escalation in the Middle East.

However, Bitcoin's gains remained limited as some investors moved to take profits after recent rallies, alongside strong resistance near the $75,000 level, which has so far capped further upside.

Global Markets Support High-Risk Assets

Digital currencies benefited from positive momentum in global markets, where U.S. stocks, particularly technology shares, hit new record highs this week, supporting assets that typically move in tandem with risk appetite.

Cyberattack Hits "Grinex" Platform

In a separate context, the Russia-linked cryptocurrency exchange Grinex announced the suspension of its operations after suffering a cyberattack that led to the theft of approximately one billion rubles (about $13 million), according to a statement published via Telegram.

The platform, which is based in Kyrgyzstan and is subject to sanctions from the United States, the United Kingdom, and the European Union, explained that the attack used "highly sophisticated" methods, pointing to the possible involvement of "foreign intelligence services" and asserting that the goal was to undermine the Russian financial system.

Mixed Movements for Altcoins

Alternative digital currencies saw a mixed performance in volatile trading:

- Ethereum, the second-largest digital currency, fell 1.3% to $2,324.92.

- In contrast, Ripple rose by 1.4% to $1.43.

Overall, the cryptocurrency market remains within a cautious range, as investors await any new developments regarding geopolitical tensions, which have become a primary factor in directing global risk appetite.