Investing.com– steadied just below the $78,000 mark on Thursday, as investors weighed persistent geopolitical tensions in the Strait of Hormuz despite an extension of a U.S.-Iran ceasefire.
The world’s largest cryptocurrency last traded 1.4% lower at $77,712 by 09:18 ET (13:18 GMT).
Prices had climbed above $79,000 on Wednesday, marking their strongest level since early February.
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US-Iran tensions continue despite ceasefire; rises
Trump on Tuesday extended a ceasefire with Iran, stepping back from plans for renewed military strikes, although uncertainty remained as Tehran has not formally accepted the extension and has criticized the ongoing U.S. naval blockade of its trade routes.
Iran’s Revolutionary Guard seized two container ships in the Strait of Hormuz on Wednesday, tightening its grip on the key energy chokepoint. Iranian forces also fired on three vessels in the area.
The ongoing standoff has kept global energy markets on edge, with oil prices holding above $100 per barrel.
Asian stock markets and Wall Street futures declined Thursday morning.
Still, cryptocurrencies were better supported, primarily by renewed institutional demand.
has continued its aggressive accumulation of cryptocurrency, announcing another multi-billion dollar purchase this week.
GSR launches first multi-asset crypto ETF
GSR said on Wednesday it launched its first exchange-traded fund, the Crypto Core3 ETF (BESO), marking its entry into asset management.
The U.S.-listed fund offers actively managed exposure to Bitcoin, , and , and may generate additional returns through staking.
GSR said the ETF will rebalance weekly based on research signals and charge a 1% management fee, as it targets growing demand for diversified crypto investment products.
Crypto companies press Senate to move on market structure bill
A broad coalition of crypto companies and trade groups is urging the Senate Banking Committee to advance legislation that would establish a federal framework for digital asset markets, warning that further delay risks pushing investment and innovation overseas.
The groups — led by the Crypto Council for Innovation and the Blockchain Association — called on Committee Chairman Tim Scott, Ranking Member Elizabeth Warren, Digital Assets Subcommittee Chair Cynthia Lummis, and Ranking Member Ruben Gallego to schedule a markup of the Clarity Act.
In a letter released Thursday, the coalition highlighted several provisions central to the negotiations, including consumer rewards tied to payment stablecoins, clearer division of authority between the SEC and CFTC over tokenized instruments, protections for developers of decentralized technologies, and a uniform federal standard applicable across all 50 states.
The groups framed the bill as a broader test of U.S. leadership in digital finance, arguing that agency guidance alone is insufficient and that a return to enforcement-driven regulation would perpetuate the kind of uncertainty that has long plagued the industry.
“Timely action is critical,” the letter said, warning that without a comprehensive framework, investment and jobs could move to jurisdictions with clearer rules.
Signatories included Coinbase, Circle, Kraken, Ripple, Uniswap Labs, Andreessen Horowitz, Paradigm, Chainlink Labs, Chainalysis, OKX, and Block, among others.
Crypto price today: altcoins slip; SOL and ADA down 3%
Most altcoins fell on Thursday as a rise in oil prices weighed on broader risk sentiment.
World no.2 crypto Ethereum lost 4% to $2,322.
World no. 3 crypto fell 3% to $1.42.
slipped and Solana slid about 3% each, while rose marginally.
Among meme tokens, dipped 1.5%.
(Ayushman Ojha contributed to this report.)
