Bitcoin's price rose to $78,018.4 on Wednesday, buoyed by U.S. President Donald Trump's announcement of an indefinite extension of a ceasefire with Iran. This development, while unilateral and uncertain regarding Tehran's acceptance, was interpreted positively by financial markets, resulting in a 2.7% increase in Bitcoin's value. The cryptocurrency reached a peak of $78,430.4 during the day, marking its third consecutive day of gains. The rise in Bitcoin's price is attributed to renewed institutional demand, highlighted by Strategy Inc's significant acquisition of 34,164 bitcoins for $2.5 billion, raising its total holdings to approximately 815,000 coins valued at about $61.6 billion. This purchase was primarily funded through capital market activities. Additionally, the overall cryptocurrency market saw gains, with Ethereum rising 3.2% to $2,391.53 and other altcoins like XRP and Dogecoin also experiencing increases.