Bitcoin Surges Past $72K as Crypto Market Rallies and Kraken Secures US Banking License

Bitcoin is experiencing a resurgence, and the crypto markets are also seeing an upswing for Ethereum, Dogecoin, and others.

Bitcoin continues its surge

Bitcoin has surged with a daily gain of over 6 percent, climbing from $68,000 to around $72,000 on Thursday morning. Bitcoin ETFs also contributed to the upward trend, attracting $462 million in capital inflows since Wednesday’s trading.

Analysts report that the situation in Iran continues to influence the crypto market. However, the conflict appears to be contained, and financial markets are breathing a sigh of relief. Bitcoin now has the chance to target the $80,000 mark.

However, on the other hand, experts like Leviathan and King of Charts are warning of a “bull trap.” They consider the Bitcoin price surge a familiar pattern, one that initially lures investors in, only to then catch them off guard by falling BTC prices.

A 7 percent daily gain allows Ethereum to keep pace with Bitcoin

ETH is now trading at just over $2,100, its highest level since early February. Ethereum ETFs reported $169 million in new capital, a level of performance not seen since the beginning of the year.

The sentiment towards Ethereum in the betting markets is shifting to positive. At Polymarket, for example, price levels of $2,400 and $2,600 in March are now considered significantly more realistic than a renewed drop below $2,000. Crypto celebrity Tom Lee of the Ethereum company Bitmine Immersion told CNBC that the Iran war wouldn’t disrupt an ETH rally – but his predictions are often wrong.

Some altcoins also grow

The top performer among the 20 most important altcoins today is Dogecoin with an 8 percent gain; DOGE even temporarily broke the $0.10 mark. Dogecoin is currently the only meme coin that is also listed on traditional stock exchanges via ETFs. However, interest there remains negligible; on most trading days, virtually nothing happens regarding Dogecoin ETFs, as data from SoSo shows.

NEAR has suffered a 5 percent decline in the last 24 hours, making it the day’s worst performer. The project aims to be a blockchain for artificial intelligence (AI). Whether NEAR can succeed in this area is questionable – Ethereum already dominates the AI ​​sector with its new ERC-8004 standard .

The public sentiment barometer has risen by ten points since yesterday, breaking out of the “extreme fear” zone for the first time since January. The neutral zone is now within reach.

The cryptocurrency exchange Kraken refers to its acquisition of a full US banking license as a “historic moment” on its social media platform X. This allows Kraken to open a direct account with the US Federal Reserve, a significant vote of confidence. However, traditional banks are criticizing the move, warning of financial risks for Kraken’s customers.

US banks are currently generally stirring up sentiment against crypto competitors. President Trump’s son, Eric Trump, has used X to denounce JPMorgan Chase and other banks as “anti-American,” claiming they are not passing on interest income to their clients. Trump writes that crypto projects like World Liberty Financial (WLFI), which he co-founded, operate “fairer” than major banks.

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(Featured image by Kanchanara via Unsplash)

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