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Bitcoin rose above $72,000 for the first time in 20 days after the United States and Iran agreed to a two-week ceasefire. The move followed a statement from former U.S. President Donald Trump, who said on Truth Social that he agreed to suspend “the bombing and attack of Iran for a period of two weeks,” hours before his deadline for Iran to reopen the Strait of Hormuz or face military attacks on key infrastructure.
Iran’s Supreme National Security Council also said it accepted the ceasefire. In the hour after the announcement, Bitcoin climbed 2.6%, reaching $72,339 at the time of publication, according to CoinMarketCap.
Crypto traders have often treated geopolitical tensions as a headwind for prices, with signs of easing typically triggering short-term relief rallies.
The last time Bitcoin traded above $72,000 was March 18. Broader sentiment in the crypto market remains cautious, with the Crypto Fear & Greed Index showing an “Extreme Fear” score of 11 on Tuesday.
Earlier, on April 1, Trump said the U.S. could wrap up its military campaign in Iran within weeks, claiming the goal of eliminating Iran’s nuclear capabilities had been achieved. The ceasefire announcement also came hours after Trump renewed threats against Iran, including a post on Monday warning that “a whole civilization will die tonight, never to be brought back again.”
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