New Delhi, April 8 -- Bitcoin prices climbed to a three-week high on Wednesday, April 8, after the US and Iran reached an initial ceasefire agreement, boosting the appetite for riskier assets.

The world's largest cryptocurrency jumped as much as 4.9% to $72,738 - its highest level since March 18 - before trimming gains to trade around $71,300 by midday. Smaller cryptocurrencies also posted strong advances, with Ether surging as much as 7.4% to $2,273.

Despite the rebound, Bitcoin remains more than 40% below its record peak of over $126,000 set in October last year.

The rally in the cryptocurrency came after crude oil prices tumbled as US President Donald Trump agreed to pause attacks on Iran for two weeks, boosting expectations that th...