Bitcoin BTC $71,155.24 is currently trading at around $71,000 having risen by 0.25% since midnight UTC, adding to a broader 24 hour rally of 4%.

Asian hours were favorable to AI tokens, with bittensor (TAO) and FET $0.2345 adding 5.8% and 4.1% apiece. The rise followed comments from Nvidia CEO Jensen Huang, who claimed that artificial general intelligence (AGI) — a term for AI that matches the cognitive abilities of human beings — has already been achieved.

Still, the main market driver continues to be the war in the Middle East following fresh strikes in Tel Aviv and Lebanon on Tuesday. On Monday, U.S. President Donald Trump said a 48-hour ultimatum over the Strait of Hormuz had been put on hold following «good and productive» peace talks with Iran, although Iranian officials called it «fake news.»

Oil remains at around $100 per barrel while U.S. equities are in the red, with Nasdaq 100 futures and S&P 500 futures both down by around 0.1% since midnight.

The crypto market has remained relatively resilient during the conflict, with bitcoin outperforming gold, a traditional haven asset, since the start of the war.