Bitcoin (BTC) climbed above $79,000 on Wednesday, reaching its highest level since February 3 after President Donald Trump announced an extension of the US ceasefire with Iran.
The move came as US equities also gained ground, with the Nasdaq rising more than 1% during the session.
Iran Ceasefire Lifts Risk Appetite
Trump extended the two-week ceasefire on Tuesday, saying Tehran’s government was “seriously fractured” and needed time to present a unified proposal to end the conflict.
The blockade on Iranian ports will remain in place, however, as the administration pushes for a quick diplomatic outcome.
The announcement eased fears that had weighed on markets for weeks. BTC had fallen below $74,000 on April 19 after Iran rejected a second round of peace talks. Since then, the token has recovered more than 7%, to briefly surpass the $79,000 threshold today.
Bitcoin (BTC) Price Performance. Source: TradingViewTrump also signaled that renewed US-Iran negotiations could happen “as soon as Friday,” with mediators in Pakistan reportedly pushing for a fresh round within 36 to 72 hours.
Iran’s foreign ministry has not confirmed participation, accusing Washington of bad faith in earlier rounds.
Broader Macro Tailwinds Support the Rally
Meanwhile, the latest Bitcoin rally extends beyond geopolitics. Global central banks now hold approximately 38,666 tons of gold, roughly 17% of all gold ever mined, according to the Kobeissi Letter. The continued accumulation reflects a broader shift toward hard assets that has also benefited BTC.
Meanwhile, Chinese silver imports jumped 78% month-over-month to a record 836 tonnes in March, driven by retail investors seeking alternatives to gold and solar manufacturers front-loading production.
On the risk side, US margin debt fell $32 billion in March to $1.22 trillion, its lowest since November 2025. Margin debt is still up 39% year-over-year, a pace of growth last seen during the 2021 meme stock frenzy.
US Margin DebtGeopolitical risk has not fully receded. Iran’s Islamic Revolutionary Guard Corps issued a warning suggesting it could cut undersea internet cables and cloud infrastructure in the Persian Gulf, a threat that could rattle markets if tensions resume.
Whether BTC can extend gains to $80,000 may depend on how quickly Iran responds to Trump’s deadline for a unified proposal.
The post Bitcoin Races To $80,000 As Trump Extends Iran Ceasefire: Here Are Other Factors Driving The Rally appeared first on BeInCrypto.
Source: https://beincrypto.com/bitcoin-80000-trump-iran-ceasefire/
