Leading cryptocurrencies rallied, while stocks closed at new records on Wednesday on the Iran ceasefire extension, even as Strait of Hormuz tensions simmer.

Crypto Market Gains Momentum

Bitcoin nearly topped $80,000 before easing off to the low $78,000s. Trading volume spiked 36% over the last 24 hours.

Ethereum topped $2,400, also supported by strong buying pressure,  while XRP and Dogecoin moved sideways.

Over $460 million was liquidated in the past 24 hours,with $350 million in bearish positions alone wiped out, according to Coinglass data.

Open interest in Bitcoin futures rose 8.64% over the last 24 hours to $61.57 billion. Whale and retail traders on Binance, however, were “extremely…

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