FTSE 100 today: Stocks edge higher as bitcoin extends surge

On Tuesday, the British stock market's FTSE 100 experienced a modest uptick as investors flocked to riskier assets, buoyed by bitcoin's surge to three-month highs. The FTSE 100 gained 0.15%, while Germany's DAX climbed 0.24% and France's CAC 40 increased 0.26%. The British pound remained relatively stable against the dollar, posting a slight gain of 0.03% to $1.3640.

Bitcoin's value crossed $80,000, reaching a three-month peak near $80,323, following its brief peak of $81,237.94 earlier, marking its strongest level since mid-May. This cryptocurrency rally was fueled by a softer dollar resulting from the Treasury Secretary's bond-buyback strategy, which reignited interest in crypto markets. Trump recently urged Congress to pass a bill to clarify cryptocurrency regulation, leading to a 16% rise in bitcoin since then.

Despite elevated geopolitical risks, the market sentiment remained optimistic. U.S. Secretary of Defense Pete Hegseth indicated that the U.S. is not dismissing the possibility of strikes on Iran if necessary, while emphasizing economic pressure as the primary tool. In a related development, Iranian Supreme Leader Mohsen Rezaei threatened to halt all Gulf oil exports in response to ongoing economic sanctions.