07.04.2026 23:59
Bitcoin rocketed past the $72,000 mark on Tuesday evening, while oil prices tumbled dramatically after President Donald Trump announced a two‑week cease‑fire between the United States and Iran on his Truth Social platform.
According to data compiled by CoinDesk, the world’s largest cryptocurrency by market capitalization surged 5 % over the previous 24 hours, peaking at $72,699. The broader crypto market echoed the rally, with the CoinDesk 20 Index climbing 5 % to reach 2,034 points.
U.S. equity futures also moved higher: S&P 500 contracts gained 1.9 %, Nasdaq‑linked futures rose 2.2 %, and Dow Jones futures edged up about 1.8 %.
In stark contrast, energy markets experienced a sharp pullback. West Texas Intermediate crude slumped more than 10 % to $95 per barrel, and Brent crude followed a similar trajectory.
The bullish momentum across risk‑on assets came after the administration announced a suspension of a previously planned extensive bombing campaign against Iran. In a Truth Social post posted shortly before the 8 p.m. ET deadline, Trump wrote, “I agree to suspend the bombing and attack of Iran for a period of two weeks… This will be a double‑sided cease‑fire! The reason for doing so is that we have already met and exceeded all military objectives, and are very far along with a definitive agreement concerning long‑term peace with Iran, and peace in the Middle East.”
Iran’s officials confirmed the truce, stating that “if attacks against Iran are halted, our powerful armed forces will cease their defensive operations.” The statement added that oil tankers could once again navigate the Strait of Hormuz for the next two weeks, provided they coordinate with Iranian forces and respect certain technical constraints.
Energy analysts cited by internet sources noted that, while the reopening of the Strait of Hormuz remains “somewhat muddled” due to those technical limitations, the temporary cease‑fire does pave the way for the resumption of oil and LNG flows through this crucial chokepoint.
