08.04.2026 09:51
Bitcoin surged past the $72,000 mark on Tuesday, fuelled by President Donald Trump’s declaration of a two‑week, conditional cease‑fire with Iran. The announcement triggered a broad rally across global markets, lifting the leading cryptocurrency to a peak of $72,379 early Wednesday, while it now hovers around $71,610—a 3.5 % rise in the last 24 hours, according to data aggregated from CoinGecko.
The truce also sent shockwaves through the commodities sector: U.S. crude prices tumbled more than 22 %, slipping from roughly $117 to $91 per barrel as the Strait of Hormuz, a critical chokepoint for oil shipments, prepared to reopen. Analysts cited the cease‑fire as “fragile breathing room,” emphasizing lingering ambiguities in the agreement and warning that upcoming macro‑economic events could quickly reshape sentiment.
Trading metrics reflected the intensity of the move. Short positions in crypto were wiped out, erasing about $425 million, while liquidations on the long side added another $170 million, figures compiled by CoinGlass. The bullish cascade spilled over to altcoins as well; Zcash, LayerZero and Ethena each posted double‑digit percentage gains in response to the news.
Equity markets mirrored the cryptocurrency rally. The S&P 500 climbed more than 3.6 % to $6,838, skirting just below its all‑time high of $7,043. Parallel advances were recorded in Asia, with Japan’s Nikkei and South Korea’s KOSPI indices also posting notable upticks.
Trump’s cease‑fire was outlined in a TruthSocial post, wherein he explained that, after discussions with Pakistani leaders, the United States would suspend bombings and attacks on Iran for fourteen days—provided Tehran agrees to a “complete, immediate, and safe opening” of the Strait of Hormuz. The deal grants Iran and Oman the right to levy fees on vessels passing through the waterway, with the revenue earmarked for reconstruction efforts.
Critics quickly labeled the pact as another instance of “TACO” (“Trump Always Chickens Out”), referencing the president’s earlier threat that “a whole civilization will die tonight” if Iran failed to reopen the strait. Nonetheless, the temporary calm has opened a window for broader global crypto adoption, particularly for stablecoins, as markets anticipate a more stable geopolitical environment.
