Bitcoin Climbs Above $79,000 to 11-Week High as Trump’s Iran Ceasefire Extension Shakes Markets

Bitcoin Climbs Above $79,000 to 11-Week High as Trump’s Iran Ceasefire Extension Shakes Markets

Bitcoin climbs above $79,000 for the first time in 11 weeks, and the trigger wasn’t purely technical, it was geopolitical. On April 22, 2026, President Donald Trump extended the U.S.-Iran ceasefire indefinitely, a move that immediately removed the imminent threat of renewed conflict near the Strait of Hormuz and sent risk assets surging across the board.

BTC opened the session near $76,342 and hit an intraday high of $79,214 before settling around $78,800, a gain of roughly 4.1% on the day, with 24-hour trading volume topping $47 billion. The rally extended a recovery from the year’s low of around $60,057 set back on February 6.

The ceasefire extension came after Pakistani mediators requested more time, with Trump citing internal divisions within Iran’s leadership and the need for a unified peace proposal from Tehran. The announcement defused fears that had hung over global markets for weeks.

Wall Street responded in kind. The S&P 500 gained about 0.9% to near 7,125, the Nasdaq climbed 1.1% to approximately 24,540, and the Dow added around 0.8%. Technology and AI-linked stocks led the charge, backed by strong quarterly earnings from Amazon, Microsoft, and Oracle.

Corporate bitcoin accumulation added further fuel. Strategy reported it acquired 34,164 BTC for approximately $2.54 billion during the week ending April 19, its third-largest weekly buy on record, bringing its total holdings to 815,061 BTC. Strategy’s equity instrument STRC alone has funded roughly 77,000 BTC year-to-date, outpacing net inflows across all U.S. spot Bitcoin ETFs combined.

On that front, spot Bitcoin ETF flows also remained supportive through the week, with BlackRock’s IBIT and other funds logging strong net inflows on select days — one recent week recorded approximately $996 million in total ETF demand, the strongest since mid-January.

Chain data painted a similarly bullish picture. Bitcoin reserves on exchanges dropped to seven-year lows near 2.21 million BTC, pointing to reduced near-term selling pressure. Whale wallets accumulated several hundred thousand BTC over the preceding 30-day window, and short liquidations during key moves ranged from an estimated $180 million to $650 million, amplifying the upside price action.

Crypto-linked equities joined the rally. Strategy (MSTR) jumped 10%, Circle Internet (CRCL) gained 9%, Coinbase (COIN) rose 6%, and Bitcoin miners MARA Holdings and Riot Platforms each added 6%–7%. Ethereum, XRP, Solana, and a wide range of altcoins also moved higher alongside Bitcoin on the same risk-on momentum.

With Bitcoin climbing above $79,000 and bulls now eyeing the $80,000–$85,000 range as the next target, traders will be watching whether the geopolitical calm holds. JPMorgan analysts maintained bullish S&P 500 targets near 7,600, though cautious longer-term forecasts remain on the table. The $74,000–$76,000 zone has flipped to near-term support, and for now, the market is leaning into the optimism.