JAKARTA - Ajaib reported that the price of Bitcoin (BTC) surged in the last 24 hours, as market sentiment increased due to the hope of easing geopolitical tensions and the inflow of institutional funds.
Financial Expert Ajaib, Panji Yudha, said that as of Wednesday, April 8 morning, BTC rose 4.16% to the level of 71,685 US dollars (Rp. 1.21 billion) after previously touching 72,760 US dollars (Rp. 1.23 billion).
Apart from Bitcoin, Panji also revealed a number of crypto assets that also recorded significant increases in the last 24 hours.
Memefi (MEMEFI) token led the list of top gainers with a 64% increase, followed by Swarms (SWARMS) up 53.60% and Joe (JOE) up 51.65%. On the other hand, DForce (DF) fell 30.90%, Tranchess (CHESS) weakened 29%, and OKZOO (AIOT) fell 20%.
According to Panji, the movement of the crypto market occurred simultaneously with a sharp decline in crude oil prices which fell to the level of 91 US dollars (Rp1.54 million) per barrel.
This condition is triggered by the emergence of hopes for a diplomatic breakthrough between the United States and Iran ahead of the deadline for the ultimatum that had previously increased global geopolitical tensions.
"This wild movement was triggered by the emergence of hope for a sudden diplomatic breakthrough between the United States and Iran, just as the world is preparing for potential total destruction," Panji said in his statement.
The sentiment of potential peace was immediately responded to positively by the risky asset market, including crypto. The bullish sentiment was also strengthened by the accumulation of institutional investors.
Strategy, formerly known as MicroStrategy, reportedly bought 4,871 BTC worth around $330 million. The purchase brings the company's total Bitcoin holdings to 766,970 BTC.
Ajaib estimates that Bitcoin's movement today is in the range of US$71,000 - US$74,000 (Rp1.2 - Rp1.25 billion). Meanwhile, Ethereum is projected to move in the range of US$2,200 - US$2,400 (Rp37.4 - Rp40.8 million).
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