Bitcoin climbs above $72,000 as Trump announces a two-week conditional ceasefire with Iran

Bitcoin surged to fresh highs above $72,000 after U.S. President Donald Trump announced a two-week conditional ceasefire with Iran, lifting broader risk assets and easing concerns over energy supply routes.

Bitcoin rally and market-wide risk-on move

Bitcoin peaked at $72,379 on Wednesday morning and was last trading around $71,610, up 3.5% over the past 24 hours, according to CoinGecko data.

The move triggered liquidations totaling $425 million in short crypto positions, with an additional $170 million in long liquidations, according to CoinGlass data. Several altcoins, including Zcash, LayerZero and Ethena, posted double-digit gains.

Equities also rose: the S&P 500 climbed more than 3.6% to $6,838, remaining below its $7,043 all-time high. Japan’s Nikkei and South Korea’s KOSPI recorded similar gains. U.S. oil, however, fell more than 22%, dropping from above $117 per barrel to $91.

The U.S.-Iran ceasefire terms

Trump said, based on conversations with Pakistani leadership, that he agreed to suspend the bombing and attack of Iran for two weeks if Iran agrees to the “COMPLETE, IMMEDIATE, and SAFE OPENING” of the Strait of Hormuz, according to a TruthSocial post Wednesday.

The ceasefire would allow Iran and Oman to charge fees on ships transiting the strait, with proceeds directed toward reconstruction.

Analysts: “fragile breathing room” amid unresolved risks

Crypto executives and analysts said the pause may provide short-term relief, but they cautioned that gaps in the agreement and the limited time frame leave uncertainty.

Maksym Sakharov, co-founder and CEO of on-chain banking infrastructure provider WeFi, told Decrypt that the ceasefire could support broader crypto adoption, “especially stablecoins,” and potentially drive a sharp market-wide move.

Andri Fauzan Adziima, research lead at cryptocurrency exchange Bitrue, said the truce offers “fragile breathing room” after weeks of escalation, while noting skepticism about whether it will hold beyond two weeks. He also pointed to concerns that the ceasefire does not cover Lebanon, where Israeli air strikes have continued.

Justin d’Anethan, head of research at crypto research firm Arctic Digital, said the market’s optimism is tempered by the possibility that the situation may not translate into sustained change, adding that “all eyes” remain on the Strait of Hormuz.

Data and policy developments to watch

Analysts highlighted upcoming macro and regulatory factors that could influence risk appetite. Sakharov cautioned that U.S. CPI expectations could affect rate-cut timing and growth outlook.

On the regulatory front, Sakharov noted progress after the Federal Deposit Insurance Corporation approved a proposal to implement the GENIUS Act requirements and standards.

He also said stablecoin rules requiring 1:1 backing with hard cash would reduce “excuses” for using stablecoins, potentially increasing trust and adoption.

What it means for Bitcoin next

While the two-week pause has helped lift Bitcoin and other assets, analysts said Bitcoin’s near-term direction depends on whether the ceasefire holds and how macro data unfolds.