Bitcoin Climbs Toward $78,000 on AI Optimism, Risk Sentiment

Key Moments

Bitcoin Firms as Risk Appetite Improves

Bitcoin moved higher on Thursday, trading close to the $78,000 level as improved risk appetite flowed through global markets. The advance followed stronger-than-expected earnings from Nvidia and signs of easing tension in the Middle East, both of which supported demand for risk-oriented assets.

The world’s largest cryptocurrency was last quoted at $77,651.4 by 02:39 ET (06:39 GMT), after reaching an intraday high of $78,165.2 within the last 24 hours. The latest move higher marked a partial rebound from declines earlier in the week, when rising U.S. Treasury yields and geopolitical uncertainty weighed on digital assets.

Geopolitics and Nvidia Earnings Shape Market Mood

Investor confidence improved after comments from U.S. President Donald Trump suggested progress in negotiations with Iran. Market participants reacted to his statement that talks were in their final stages, which raised hopes for a possible agreement that could cool tensions around the Strait of Hormuz and alleviate worries over potential disruptions to energy supplies.

Trump indicated he was prepared to wait a “few days” for a resolution, while also cautioning that further military action against Iran remained an option if no peace deal was reached. In a separate development, Iran stated on Thursday that it was reviewing the latest U.S. position on ending the war.

At the same time, Nvidia’s latest financial update helped drive renewed enthusiasm for technology and AI-related assets. The chipmaker reported quarterly revenue of $81.6 billion and guided for second-quarter revenue of about $91 billion, surprising to the upside and boosting sentiment across global equity and crypto markets.

Asian stock markets reacted strongly, with equities rallying and semiconductor names leading the gains across the region. The more optimistic backdrop in equities carried over into digital assets, where price action has increasingly mirrored moves in technology and AI-linked themes.

Rates, Fed Policy, and Bitcoin’s Technical Hurdles

Despite the supportive macro environment, Bitcoin’s advance remained measured, as elevated bond yields and uncertainty around the Federal Reserve’s next steps continued to temper risk-taking. Minutes from the Fed’s April meeting indicated that policymakers stayed concerned about sticky inflation, keeping alive expectations that another interest rate increase could still occur later this year.

Bitcoin has found it difficult to establish a sustained foothold above the $80,000 threshold in recent weeks. The token briefly pushed beyond $82,000 earlier this month on optimism tied to Iran negotiations, but it has since struggled to maintain that momentum.

SpaceX IPO Filing Highlights Corporate Bitcoin Exposure

Broader sentiment in the digital asset space received an additional lift from a high-profile corporate disclosure. SpaceX released its long-anticipated IPO prospectus on Wednesday, formally outlining plans for what could become the largest initial public offering in history.

The filing revealed that the company held 18,712 Bitcoin as of March 31. This disclosure reinforced market expectations that institutional and corporate interest in cryptocurrencies remains robust, and it further underscored Bitcoin’s role within some large private balance sheets.

Altcoin Performance Remains Mixed

While Bitcoin advanced, price action across major altcoins was more subdued on Thursday.

Ethereum, the second-largest cryptocurrency by market capitalization, slipped 0.2% to $2,128.92. XRP, ranked third globally, was unchanged at $1.37. Among major altcoins, Solana rose 1.6%, while Cardano and Polygon each fell 0.5%.

In the meme token segment, Dogecoin added 1.4%, extending gains amid the broader, though uneven, improvement in crypto market sentiment.