Recently, there has been significant activity in the cryptocurrency markets. As fears of war diminish, Bitcoin has broken the $72,000 level for the first time, trading around $72,760. It has increased by 1.33% in the last 24 hours and has risen by 8.58% on a weekly basis. Ethereum also reached $2,240, Solana declined to $84, and XRP became $1.35. Dogecoin remains at $0.09, while BNB dropped to $605.

Actually, this rally is not solely driven by technical factors. The easing of tensions in the Strait of Hormuz, the decline in oil prices, and the return of overall risk appetite to the market have sent positive signals for cryptocurrencies as well. Asian stock markets also started rallying during the same period, with momentum continuing supported by Wall Street.

There were some standout performers among cryptocurrencies. Ether, Dogecoin, and XRP showed the strongest gains, while Solana lagged slightly behind. Tron only increased by 1.4%, following the others. BNB also advanced by 0.89%. This market activity seems to indicate that the initial shock of regional conflict has been overcome.

An interesting detail: Bhutan has quietly reduced its Bitcoin holdings over the past years. In October, it sold about 70% of its Bitcoin and lowered its reserves to 3,954 BTC. The country’s hydroelectric-powered mining operations also appear to have slowed down. Such macro movements are shaping long-term trends in the cryptocurrency market.