Bitcoin jumped along with equities on Wednesday after President Donald Trump said he would extend a ceasefire with Iran, bolstering market confidence.
The original cryptocurrency rose as much as 2.7 per cent, trading around $77,500 at 1 pm in Singapore. It was the highest price since Friday, when the token touched a two-month high of $78,344. Other cryptoassets also advanced, with Ether up as much as 2.8 per cent.
“BTC’s near-term direction remains highly dependent on developments in the macroeconomic and geopolitical landscape,” said Paul Howard, senior director at market maker Wincent. “In the absence of a clear external catalyst, traders focused on positioning around low-volatility conditions are likely to view the $72,000 area as a key support zone, with upside constrained by a potential resistance and profit-taking ceiling around $79,000.”
Contracts for the S&P 500 Index were also up by more than 0.5 per cent, while Brent crude slipped slightly, fluctuating around $98 a barrel.
Bitcoin has weathered the war with Iran better than many assets, including the traditional safe haven of gold. Bullion is down roughly 10 per cent since February 27, while Bitcoin is up more than 15 per cent over the same period.
“Crypto has been in a bullish mood in the past few weeks, often shrugging off bad news and climbing on good news,” said Caroline Mauron, co-founder of Orbit Markets. “The $75,000 level should hold as solid support from here, and a clean break above $80,000 would unlock significant further upside.”
Since the outbreak of the war at the end of February, Bitcoin has largely traded between $65,000 and $75,000. The holding pattern has been a reprieve from months of declines that has seen the token shed roughly 40 per cent of its value from its $126,000 high in October, when a sharp selloff sent crypto markets spiraling.
In recent weeks, inflows have returned to US-listed spot Bitcoin exchange-traded funds. The 13 funds have seen more than $250 million in net inflows so far this week, after investors poured $996.4 million into the funds last week.
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Published on April 22, 2026