Muscat: Bitcoin extended its gains today, approaching the $66,000 mark as spot exchange-traded fund (ETF) inflows picked up, signalling a rebound in institutional appetite for the cryptocurrency. Bitcoin rose 2.6 percent to a two-week high of $65,755.40, continuing its recovery after a sharp sell-off that hit the market earlier this year.
According to Oman News Agency, Ethereum, the second-largest cryptocurrency by market value, climbed 4.6 percent to $1,934.71. Geopolitical tensions continue to weigh on markets, with US-Iran hostilities persisting and fuelling concerns over their impact on energy markets and the global economy.
But reports of regional mediation efforts and signs that Washington and Tehran could resume talks have raised hopes of easing the crisis, helping to pull oil prices back from five-week highs and easing inflation fears tied to higher energy costs.