Bitcoin price has moved back above $78,000 after President Donald Trump said the United States would extend its ceasefire with Iran while keeping the naval blockade in place until further talks are completed. The cryptocurrency climbed to about $78,343, its highest level since February, as traders responded to signs that geopolitical pressure in the Middle East may be easing.
The move also came after Iran said the Strait of Hormuz would remain open, reducing one of the main risks that had weighed on global markets.
The rebound in Bitcoin reflected a wider shift back toward risk assets. U.S. equities and crypto markets both gained as traders reacted to lower near-term concern around energy supply disruption and regional conflict. Bitcoin rose about 3% and pushed toward its strongest levels since the market peaked near $78,300 on Friday. The latest advance kept attention on whether Bitcoin can now hold above recent resistance and build toward the $80,000 level.
US-Iran War Ceasefire Extension and Hormuz Reopening Lift Market Sentiment
Trump said the U.S. military would continue its blockade and remain ready while Iran’s leaders prepare a unified proposal for talks. He also said the ceasefire would be extended until those discussions are concluded. In a separate statement, Trump said Iran wanted the Strait of Hormuz open because closing it would cut off about $500 million a day in revenue. That comment came after Iran indicated that commercial shipping through the waterway would remain open during the ceasefire period.
Those developments helped improve market mood across asset classes. Bitcoin responded quickly because it had already been trading close to a breakout level. The easing of immediate war-related pressure gave traders more room to move into crypto and equities. Market activity suggested that participants were willing to buy back into risk as the chance of a wider regional disruption appeared lower than earlier in the month.
The move also matched a pattern seen during previous pauses in geopolitical stress, when Bitcoin and major stock indexes rebounded together. For Bitcoin, the latest price jump placed the asset back above levels that had acted as resistance since its earlier selloff.
Sentiment Signals Point to Continued Buying Interest
Market data showed that investor positioning remained mixed even as Bitcoin rallied. Santiment said bearish comments still outnumbered bullish ones by three to two after Bitcoin moved above $77,000. That suggested retail traders remained cautious, partly because repeated ceasefire headlines had not always led to lasting price moves. Even so, negative sentiment during a rally can sometimes accompany continued upside if traders remain underexposed.
Source: X
Another closely watched signal came from Coinbase Premium. Bitcoin’s Coinbase Premium stayed positive for 14 straight days, marking its longest bullish streak since the asset’s peak near $126,000 in October, according to the supplied market note. A positive premium is often read as a sign that U.S. capital is returning to Bitcoin in a sustained way rather than through brief bursts of buying.
On-chain cost basis data also supported the recovery narrative. The realized price for Bitcoin over the last one to three months was estimated at $74,000, meaning many recent buyers had returned to break even. Analysts tracking this metric said a further move higher could place more short-term holders into profit, which is often watched as an early phase signal in a broader market recovery.
Bitcoin Spot Demand Remains Firm as Traders Watch $80,000
Short-term chart data pointed to continued spot-led strength. Aggregated spot cumulative volume delta remained positive near 8.9K, while coin-margined futures CVD stayed deeply negative around minus 61.27 million.
That gap suggested the latest move was being driven more by direct buying in the spot market than by leveraged futures activity.
Source: X
Price action also supported that reading. According to crypto analyst Ted, Bitcoin price has been making higher highs and higher lows since the April 5 low near $63,000 before pausing around the $75,500 area. The recent pullback looked more like consolidation than a full reversal because spot demand did not collapse during the pause. As long as Bitcoin stays above the $74,000 to $75,000 range, traders are likely to keep watching the $78,000 to $80,000 zone as the next target.