Bitcoin price jumps to $71.7K on U.S.-Iran two-week ceasefire

Bitcoin climbed 4.3% to $71,752 on April 8 after the White House announced a two-week ceasefire between the United States and Iran. The price briefly exceeded $72,700, the strongest level since March 18, and digital assets broadly advanced.

As of 9:05 p.m. ET, Ether was up about 6% to $2,238, XRP rose 3.5% to $1.37, and Solana gained 6.5% to $84.81. The total cryptocurrency market value increased roughly 3.95% over the past 24 hours, based on market data.

The advance followed a White House announcement outlining a two-week halt in hostilities between Washington and Tehran. Three newly created crypto wallets netted $484,575 on Polymarket by betting that the U.S. and Iran would reach a ceasefire by April 7.

In a statement, President Donald Trump characterized the pact as a “double-sided ceasefire” lasting two weeks. Earlier Tuesday, he warned the United States would carry out a “complete demolition” of Iran’s power plants and bridges if the Strait of Hormuz was not reopened by the deadline. He wrote that U.S. forces had met and exceeded military objectives and that Washington had received a 10-point proposal from Iran that could serve as a basis for negotiations on a longer-term peace agreement.

An official statement from Iran indicated it will allow safe passage through the Strait of Hormuz, a key channel for global oil shipments. Recent disruptions there had driven sharp swings in crude prices and strained supply chains.

Nick Ruck, director at LVRG, linked the crypto rally to easing geopolitical tensions. “President Trump’s announcement of a two-week pause in strikes on Iran eased geopolitical tensions and triggered a sharp relief rally across risk assets as markets priced in lower oil prices and restored global risk-on sentiment,” Ruck noted.

Ruck urged caution on the outlook. “Lingering roadblocks such as unresolved implementation of the truce, potential renewed escalations, or broader macroeconomic pressures could still limit further upside if risk sentiment reverses,” he added.

Dominick John, an analyst at Zeus Research, described the advance as a “short-term liquidity impulse” that still depends on easier financial conditions and steady inflows to endure. “Crypto upside remains capped by rate pressures and potential geopolitical flare-ups that trigger risk-off flows,” John wrote. “Sustained gains will hinge on persistent liquidity, stable macro conditions, and structural capital inflows aligning to fuel the next wave.”

Bitcoin’s intraday peak above $72,700 marked its highest print in more than three weeks.