Bitcoin has gained more than 2% in the past 24 hours, defying a broader pullback in the cryptocurrency market and climbing amid tentative signs of diplomatic progress between the US and Iran.

The world’s largest digital asset by market capitalisation (BTC-USD) is now hovering around the $108,000 (£78,608) mark, still off its all-time high of over $111,900 recorded on May 22, but showing renewed strength even as altcoins show mixed performance.

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Ethereum (ETH-USD) also rose by over 2%, with analysts pointing to its foundational role in powering stablecoin payments. In contrast, Solana (SOL-USD) dipped by about 1%, likely weighed down by declining trading volumes and fading enthusiasm in memecoin markets.

The modest bitcoin rally comes as a fragile ceasefire between Israel and Iran appeared to be holding on Thursday. US President Donald Trump told reporters at a NATO summit in the Netherlands that US and Iranian officials are expected to resume talks next week.

“We’re going to talk to them next week, with Iran,” the president told reporters at the press conference, although he didn’t specify who will be involved in any meeting or where it will take place.

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Despite Israel having resumed limited strikes just hours after Monday’s ceasefire announcement, financial markets showed little reaction. In a note, analysts at QCP Capital observed that, “traders appear to have priced in a resolution, or simply stopped waiting for one. Instead of a flight to safety, the move was risk-on in full force.”

That sentiment was reflected in US equities and oil markets, with crude prices pulling back to pre-conflict levels. In Thursday’s pre-market trading, US stock futures pointed higher. Dow Futures rose 0.2%, S&P 500 Futures gained 0.26%, and Nasdaq Futures climbed 0.38%.

Crypto equities rallied in pre-market trading on Thursday, with Coinbase (COIN) up 2.08% following a 3.06% gain on Wednesday that pushed the stock to $363.30, its highest closing level in over six months. The surge came on the back of two major regulatory breakthroughs that boosted investor confidence.

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In the US, the introduction of the GENIUS Act marked a long-awaited step toward stablecoin regulation, offering compliance clarity and opening doors for institutional adoption. Meanwhile in Europe, Coinbase secured approval from Luxembourg’s financial regulator, making it the first major US exchange authorised under the EU’s MiCA framework.