US stock markets closed at record levels on Wednesday as strong gains in technology shares and renewed optimism over geopolitical tensions boosted investor sentiment, while Bitcoin surged to $75,000 amid a broader crypto rally.

The Nasdaq Composite reached an all-time high of 24,016.02, rising 1.59%, while the S&P 500 also set a record closing level of 7,022.95 after gaining 0.8%, according to market data from Yahoo Finance.

Market gains were largely driven by a 2.08% rise in the tech sector, as investors continued to favor major growth and AI-related companies.

In parallel, Bitcoin climbed to $75,229, marking a 1.07% gain in the past 24 hours and extending a nearly 10% rise over the last two weeks. The broader cryptocurrency market also showed positive momentum alongside equities.

Analysts attributed the rally to improving investor sentiment following signals of a possible de-escalation in US-Iran tensions. US President Donald Trump suggested that the conflict could be “very close to being over,” although he emphasized that any resolution would depend on diplomatic progress.

Market strategists noted that despite ongoing geopolitical uncertainty, equities have remained resilient. Fundstrat’s chief investment officer Tom Lee said the market still has room for further upside, pointing to strong economic performance and investor caution keeping additional capital on the sidelines.

He also suggested that the next phase of market gains could be driven by cryptocurrencies such as Bitcoin and Ether, alongside major technology firms known as the “Magnificent Seven.”