KUALA LUMPUR, April 14 (Bernama) -- Bursa Malaysia ended Tuesday’s trading session higher, in line with gains across regional markets, as sentiment improved on expectations of potential peace talks between the United States (US) and Iran. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.60 points, or 0.45 per cent, to 1,688.12 from Monday’s close of 1,680.52. The benchmark index opened 10.44 points higher at 1,690.96 moved between 1,686.06 and 1,694.16 throughout the day. In the broader market, gainers outpaced losers 663 to 455, while 537 counters were unchanged, 1,061 untraded and 12 suspended. Turnover eased to 2.85 billion units worth RM2.67 billion from Monday’s 2.94 billion units worth RM2.64 billion.
Bitcoin climbed to a four-week high near US$74,900, supported by improving global risk sentiment amid renewed hopes of US-Iran peace negotiations.
The cryptocurrency later eased slightly to around US$74,400, while Ether gained about 5% to US$2,370, reflecting broader strength across digital assets.
Risk Rally Driven by Geopolitical Optimism
The rally followed comments from Donald Trump suggesting Iran had reached out for potential talks, raising expectations of de-escalation in the Middle East conflict.
Despite the ongoing naval blockade of the Strait of Hormuz, markets interpreted the development as a positive signal that negotiations may resume, supporting both equities and cryptocurrencies.
Asian stocks also advanced, reinforcing the risk-on environment.
Bitcoin Outperforms Traditional Assets
Bitcoin has shown resilience since tensions escalated in late February:
- +10% gain since Feb 27
- Gold down nearly 10%
- S&P 500 broadly flat
This performance highlights Bitcoin’s evolving role, though it continues to behave more like a risk asset rather than a safe haven.
Trading Range Persists Despite Recent Gains
Despite the recent rally, Bitcoin remains range-bound after falling from its all-time high of US$126,000 in October.
Analysts note that the token has been consolidating over the past two months, with resistance levels still intact.
According to market strategists, a sustained breakout above US$79,000 is needed to confirm a stronger bullish trend.
Regulatory Catalyst Still Key
Beyond geopolitics, regulatory developments remain a key driver.
Market participants are watching for progress on the Clarity Act, a proposed US regulatory framework for digital assets, which could provide longer-term support for crypto markets.
Investor Takeaways
- Bitcoin reached a four-week high near US$75,000, driven by improving risk sentiment.
- Optimism around US-Iran peace talks is supporting both crypto and equity markets.
- Bitcoin has outperformed gold and equities since late February, but still trades like a risk asset.
- The market remains range-bound, with key resistance at US$79,000.
- Regulatory developments, particularly the Clarity Act, could be the next major catalyst.
Comments
Post a Comment