On Wednesday, Bitcoin’s price surged past $79,000, hitting a high not seen since February 3rd. This increase followed an announcement by former President Donald Trump regarding a continued ceasefire with Iran.
I’m seeing a positive trend in the markets today. US stocks are up, and specifically, the Nasdaq had a strong session, climbing over 1%.
Iran Ceasefire Lifts Risk Appetite
On Tuesday, Trump prolonged the temporary two-week pause in fighting, explaining that the Iranian government is deeply divided and requires more time to come up with a single, clear plan to resolve the conflict.
Despite efforts to quickly resolve the situation diplomatically, the restrictions on Iranian ports will continue for now.
Recent news calmed market anxieties that had been building for weeks. Bitcoin (BTC) dropped below $74,000 on April 19th following the breakdown of peace talks with Iran, but it has since bounced back, gaining over 7% and briefly exceeding $79,000 today.
Trump suggested that the US and Iran might start talks again “as soon as Friday,” with Pakistan reportedly working to get both sides to the table within a day or two.
As a researcher following the situation, I’ve noted that Iran’s foreign ministry hasn’t yet confirmed whether they’ll participate. They’ve expressed concerns about what they see as a lack of good faith from the US in previous discussions.
Broader Macro Tailwinds Support the Rally
The recent increase in Bitcoin’s price isn’t just due to global events. Central banks around the world now hold a significant amount of gold – about 38,666 tons, or 17% of all the gold that’s ever been mined, according to the Kobeissi Letter. This ongoing trend of investing in tangible assets like gold is also helping Bitcoin gain value.
Central banks have been steadily buying gold for years and now hold enormous reserves – around 38,666 tons, which represents about 17% of all the gold ever mined. However, most of the world’s gold – approximately 97,645 tons – is still owned by individuals, primarily in the form of jewelry.
— The Kobeissi Letter (@KobeissiLetter) April 22, 2026
In March, China’s silver imports surged by 78% compared to the previous month, reaching a record high of 836 tonnes. This increase was mainly due to individual investors looking for alternatives to gold, and solar panel manufacturers buying silver in advance to meet production needs.
While still significantly higher than last year, borrowing by investors using margin decreased by $32 billion in March, reaching $1.22 trillion – the lowest level since November 2025. Despite the recent drop, margin debt is up 39% compared to a year ago, a rate of increase similar to what was seen during the 2021 surge in meme stock trading.
Global political risks remain a concern. Recently, Iran’s Revolutionary Guard threatened to disrupt internet and data services in the Persian Gulf by damaging undersea cables, which could cause significant market instability if conflicts escalate.
If Bitcoin will reach $80,000 likely hinges on how soon Iran responds to the timeframe set by former President Trump for a comprehensive plan.
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2026-04-22 18:12