Cryptocurrencies rise as Bitcoin hits three-week high

Bitcoin rose 4% to $71,776

Cryptocurrencies surged on Wednesday as risk appetite improved following a two-week ceasefire agreement between the United States and Iran.

 

Bitcoin rose 4% to $71,776 as of 09:51 a.m. Makkah time, after earlier touching $72,738, its highest level since March 18.

 

Ethereum gained 6.9% to $2,247.14, while XRP jumped about 4.8% to $1.3805.

 

Markets have experienced volatility since the outbreak of the conflict in late February, amid concerns that any sharp disruption to oil flows could worsen inflation and weigh on economic growth.

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