Bitcoin Taps $72K as Trump Agrees to Two-Week Ceasefire With Iran

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<a href="https://pricpr.com/btc-usd/">Bitcoin</a> Taps $72K as Trump Agrees to Two-Week Ceasefire With Iran

Bitcoin reached $72,380 early Wednesday morning in Asia, its highest price in three weeks, since March 18th.

Despite recent progress, the price remains within a trading range it’s been in for the past two months, suggesting any increases will probably be temporary.

Following President Trump’s call for a two-week ceasefire with Iran – contingent on Iran reopening the Strait of Hormuz – reports indicate that Iran has accepted the proposal. This acceptance has reportedly been endorsed by Iran’s new Supreme Leader, Mojtaba Khamenei.

Cryptocurrencies, gold and silver, and stock markets in Asia all saw gains, while oil prices dropped sharply. West Texas Intermediate and Brent crude oil both fell about 15% to around $96 a barrel, which is helping to ease inflation a bit.

Where Next For BTC?

Whether the market will rally depends on how quickly oil and gas production increases and how that affects inflation, according to Jeff Mei, Chief Operating Officer at the BTSE exchange, in a statement to CryptoPotato.

Crypto prices might go up if inflation decreases and the Federal Reserve starts lowering interest rates again. However, even if interest rates stay the same and the economy keeps getting stronger, crypto markets could still see a price increase.

According to Santiment’s analysis of social media conversations, people are hopeful that recent developments will bring an end to the current conflict.

As an analyst, I’m following a significant development: the US, Iran, and Israel have reached an agreement for a two-week ceasefire. This also extends the deadline for Iran to address concerns regarding the Strait of Hormuz, a vital waterway responsible for approximately 20% of the world’s oil supply. Essentially, we’ve bought some time to continue negotiations and avoid potential disruptions to global energy markets.

Although this is not…

— Santiment (@santimentfeed) April 8, 2026

According to analyst Sykodelic, Bitcoin has shown a positive sign by moving above its 50-day moving average, suggesting the price is likely to increase. They see this as an indication of growing strength in the market.

“The market’s reaction is very telling,” commented the Kobeissi Letter.

While the Iran conflict has dominated recent news, significant advancements in artificial intelligence have been quietly happening, and concerns about rising prices have also been growing.

Jamie Coutts, lead analyst at RealVision, described the recent activity as a positive sign after a period of stability near lower price levels. However, he remains cautious about the market’s prospects in the coming months.

I expect my trading system to indicate a good time to buy Bitcoin tomorrow. But if you’re planning to hold Bitcoin for a longer period, the weekly chart will show you when it’s likely safe to invest.

Bitcoin had retreated to $71,450 at the time of writing, but was still up 4.3% on the day.

Elsewhere on Crypto Markets

The news of a ceasefire also helped push up the price of Ether, which rose about 6% to $2,250 before falling back slightly. Despite this increase, Ether’s price is still fluctuating within a limited range, and faces significant resistance around the $2,250 level.

While most altcoins experienced gains, a few stood out. XRP, Solana, Dogecoin, Cardano, Hyperliquid, and Chainlink all saw significant increases, and Zcash jumped by an impressive 28%.

Tron and Canton both decreased in value during the day. Overall, the market was worth $2.52 trillion Wednesday morning, reaching its highest point in three weeks.

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2026-04-08 07:56