Bitcoin steadied above $72,000 Thursday, extending gains driven by regulatory optimism and improving risk appetite. The cryptocurrency climbed over 5% to $72,366.1, reaching a one-month high of $73,243 the previous day. Market sentiment improved despite persistent risks from the Iran-Israel conflict that kept investors cautious, with oil price spikes adding inflationary concerns.

U.S. President Trump's endorsement of swift passage for a crypto market framework bill boosted investor confidence. Trump criticized major U.S. bank groups opposing yield payments on stablecoins, driving hopes for increased regulatory favor. Meanwhile, billionaire investor Ray Dalio renewed his Bitcoin criticism despite maintaining a 1% allocation in his personal portfolio, questioning its safe-haven qualities.

Broader crypto markets followed Bitcoin's lead, with Ethereum rising 7.5% to $2,128.35 and other altcoins gaining 3-7%. Memecoins also surged, with some adding over 8% as markets recouped February losses. The rally reflected improving risk appetite, though tensions between Iran and Israel continued to create underlying market volatility for digital assets.