Bitcoin edged higher on Thursday, stabilizing after a wave of regulatory optimism and improving market sentiment fueled recent gains in the world’s largest cryptocurrency, though concerns linked to the Iran conflict continued to weigh on markets. The digital asset rose 1.5% to $72,620 by 09:37 ET (14:37 GMT), after reaching a one-month peak of $73,243 on Wednesday.
However, some gains were pared back as U.S. stock index futures turned negative Thursday morning, with ongoing tensions between the U.S., Israel, and Iran keeping investors cautious. Rising oil prices also intensified worries about the conflict’s potential inflationary effects.
Bitcoin had surged on Wednesday, extending earlier weekly gains as a strong performance on Wall Street boosted risk appetite. Bargain buying also contributed to the rally following the cryptocurrency’s sharp losses in February. The market was further supported after U.S. President Donald Trump urged lawmakers to quickly pass a long-delayed crypto market framework bill and criticized major U.S. banking groups for opposing yield payments on stablecoins.
His remarks fueled expectations that the industry could receive more favorable regulation in the U.S., although progress on the CLARITY Act—designed to establish a clear market structure for crypto—remains limited. Earlier optimism was also driven by reports suggesting Iran was seeking talks with Washington, raising hopes for de-escalation. However, Iran denied those reports and launched missile strikes on Israel early Thursday, dampening risk sentiment.
Meanwhile, billionaire hedge fund manager Ray Dalio renewed his criticism of Bitcoin, arguing it should not be compared with gold because it lacks central bank backing, offers limited privacy, and could be vulnerable to advances in quantum computing. Speaking on a podcast, the Bridgewater Associates founder said Bitcoin remains small relative to gold as a monetary asset and questioned its reliability as a safe haven.
Despite his skepticism, Dalio noted in 2025 that he maintains a 1% allocation to Bitcoin in his portfolio and previously suggested investors consider holding around 15% in either Bitcoin or gold amid concerns about the U.S. debt situation.
In corporate news, Intercontinental Exchange—the owner of the New York Stock Exchange—acquired a minority stake in crypto exchange OKX in a deal valuing the platform at roughly $25 billion. As part of the agreement, ICE will license OKX’s spot crypto pricing data and intends to launch U.S.-regulated futures contracts tied to those prices.
Subject to regulatory approval, ICE’s U.S. futures products and tokenized NYSE-listed equities could also become available on OKX’s platform. Financial terms of the investment were not disclosed, though ICE will receive a seat on OKX’s board.
Across the broader crypto market, prices moved slightly higher on Thursday, following Bitcoin’s gains as the sector recovered part of last month’s losses. Ether rose about 2% to $2,123.34, while XRP gained more than 1% to $1.43. Solana, Cardano, and BNB also recorded modest increases. Among memecoins, Dogecoin traded flat, while the $TRUMP token declined around 2%.
Sources: Ambar Warrick
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