Bitcoin price surges to a three-week high above $72K as the US and Iran agree on a two-week ceasefire. Investors are reacting positively as US President Donald Trump hints at ending the US-Iran war on Wednesday.
Oil prices plunged more than 15% to move around $95 per barrel as Iran agreed to open the Strait of Hormuz. Trump promises to help with traffic buildup in the Hormuz, claiming it as the Golden Age of the Middle East.
Gold and silver prices jump as the US dollar index (DXY) hits a four-week low below 99 today. Bitcoin, Ethereum, and XRP prices rise as the Crypto Fear & Greed Index rebounds to 17 after President Donald Trump pulled back from a catastrophic military escalation with Iran.
President Donald Trump’s Latest Truth Social Signals US-Iran War End
In a new post on Truth Social on April 8, President Trump softened his earlier aggressive rhetoric toward Iran, hinting at the potential end of the US-Iran war.
President Trump says the US will be “helping with the traffic buildup” in the Strait of Hormuz, Iran can “start reconstruction,” and the US will be “loading up with supplies and just ‘hanging around’ in order to make sure everything goes well.”
Trump remarks this as “A big day for World Peace” and the “Golden Age of the Middle East,” hinting at potentially ending the US-Iran war. As CoinGape reported earlier, Trump stated that the US would exit the war in the coming 2-3 weeks. The latest progress helps set the stage for previous peace deals proposed by mediators such as Oman.
President Trump is also set to meet Mark Rutte, Secretary General of NATO, on Wednesday at 3:30 pm ET. Rutte will meet with US State Secretary Marco Rubio before Trump.
The US and Iran agreed to a ceasefire for two weeks, with Trump considering the 10-point ceasefire proposal by Iran negotiable. The Strait of Hormuz is now reopened amid the ceasefire, triggering a rebound in US stock futures and Bitcoin price.
Meanwhile, White House Press Secretary Karoline Leavitt confirmed that negotiations would continue, with in-person talks potentially being arranged.
This is a victory for the United States that President Trump and our incredible military made happen.
From the very beginning of Operation Epic Fury, President Trump estimated this would be a 4-6 week operation.
Thanks to the unbelievable capabilities of our warriors, we have…
— Karoline Leavitt (@PressSec) April 8, 2026
Bitcoin Price Surges as Geopolitical Concerns Ease
Bitcoin price jumped more than 5% in the past 24 hours, currently trading around $71,700. BTC hits a 3-week high of $72,732 from a low of $67,740. Furthermore, trading volume has increased by 34% over the last 24 hours.
The broader crypto market rebounded nearly 5% as oil prices tumbled, easing volatility and uncertainty among traders and improving risk sentiment. Analysts noted that an end to the US-Iran war could help ease jitters over the energy crisis.
CoinGlass data showed massive buying in the derivatives market. At the time of writing, the total BTC futures open interest jumped almost 6% to $51.45 billion in the last 24 hours. BTC futures open interest climbed more than 1% in the last 4 hours, signaling bullish sentiment among derivatives traders for further upside in Bitcoin price.
However, Israeli Prime Minister Benjamin Netanyahu is claiming that the two-week ceasefire with Iran does not include Hezbollah in Lebanon. Israel’s Prime Minister’s Office said Tuesday that Israel will suspend strikes against Iran provided Iran “immediately opens the Straits and ceases all attacks on the United States, Israel, and countries in the region.”
