Bitcoin Reclaims $72K as US-Iran Ceasefire Sparks Hope for War End: Your Weekly Crypto Recap

With the world’s attention set on the quickly developing tension in the Middle East, the big news from this week was that the US and Iran announced a 14-day cease-fire. The impact on the crypto markets was immediate. But first, let’s rewind to the previous weekend, which was highly eventful on the war front. The US and Israel struck numerous targets in Iran, while President Trump gave the enemy a 48-hour deadline (which was extended) to reopen the Strait of Hormuz, otherwise the attacks will intensify. BTC remained sideways at first, failing to move out of the $66,000-$67,000 range. It finally showed some volatility on Monday morning, jumping to a then-local peak of $70,000 after reports emerged that the US and Iran had engaged in negotiations. However, it dipped later that day as other reports suggested the talks had stalled. With just hours left until the deadline expiration, Trump announced the long-sought cease-fire on his social media platform, indicating that both countries will halt the attacks for two weeks and Iran will reopen the Strait. The markets reacted with immediate fluctuations, with BTC surging to $72,600, while oil prices dropped. However, this cease-fire remains somewhat questionable as the Strait hasn’t opened fully. Israel continued to attack Lebanon, but Trump urged Netanyahu to scale down the strikes. For now, the uncertainty remains high, but bitcoin’s price has felt the positive consequences of a cease-fire, currently trading around $72,000. This means that the asset has gained 7.4% weekly, followed by ETH’s 6.8% surge. HYPE has jumped by 14% within the same timeframe, while ZEC has stolen the show with a massive 60% surge to over $375. Market Data Cryptocurrency Market Overview Weekly April 10. Source: QuantifyCrypto Market Cap: $2.530T | 24H Vol: $96B | BTC Dominance: 57.2% BTC: $72,200 (+7.4%) | ETH: $2,220 (+6.8%) | XRP: $1.34 (+1.4%) This Week’s Crypto Headlines You Can’t Miss Japan Approves Legislation Granting Crypto Financial Ins...