Bitcoin Hits 4-Week High

Bitcoin climbed above $74,000 in mid-April, hitting its highest level in four weeks, tracking improved appetite for risk assets on hopes that the US and Iran may be open to resuming peace negotiations. The move came after US Vice President JD Vance said progress now hinges on Tehran following weekend talks that failed to produce a breakthrough. President Donald Trump also said Iran had made contact with his administration over possible peace talks, even as Washington continued a naval blockade of the Strait of Hormuz. Analysts noted that Bitcoin continues to outperform broader risk assets, remaining up more than 10% since the Iran war began, though they said a significant upside move may not occur until the US enacts the Clarity Act to establish clearer rules for digital assets. US SEC Commissioner Hester Peirce also said she favors a more permanent approach to defining broker rules in crypto markets.

Bitcoin climbed above $72,000 in early April, reaching its highest level in three weeks, as risk appetite improved following news of a temporary ceasefire between the US and Iran. President Donald Trump agreed to a two-week halt on strikes against Iran, while Iran committed to temporarily reopening the Strait of Hormuz. The announcement came just under two hours before Trump’s deadline for Iran to act. The positive sentiment in global markets coincided with Bitcoin showing resilience in recent weeks, supported by easing institutional selling pressure. US-listed spot Bitcoin ETFs have also seen a rebound in investor demand, with recent inflows reversing previous outflows. After several months of declining interest, March recorded a stabilization in net inflows, reflecting renewed confidence in both the funds and the broader cryptocurrency market.

Bitcoin slipped about 2.0% to $66,512 on Thursday after U.S. Presiden Trump struck a hawkish tone in a national address on the Iran conflict, vowing to hit the country “extremely hard” in the coming weeks. Speaking from the White House, Trump said the U.S. military is “very close” to completing “Operation Epic Fury,” claiming severe damage to Iran’s nuclear, naval, and weapons infrastructure, including drones and missile capabilities. Despite the tough remarks, Trump noted that negotiations are ongoing. The U.S. is demanding Iran dismantle its nuclear program, secure key shipping routes, and halt support for proxy groups, while Iran is seeking a permanent ceasefire, compensation, and a full withdrawal of U.S. forces from the region. The escalation in Trump’s Iran rhetoric weighed on short-term risk sentiment, pressuring assets like Bitcoin. Still, hopes for diplomacy helped limit deeper losses, leaving prices vulnerable to further swings as geopolitical developments continue to unfold.