Bitcoin Price Shoots to $72,000 After US-Iran Ceasefire, Is Bear Market Over?

The much-needed two-week ceasefire announcement in the US-Iran war has brought animal spirits back in the crypto market. Bitcoin price is up 4.38% in the last 12 hours, and is trading close to $72,000. With BTC breaking out past the $70,000, investors are asking whether it’s the end to the prolonged bear market.

Bitcoin Price Swings Nearly 10% On US-Iran War Ceasefire

In a major relief for global investors, the US and Iran have reached a major ceasefire in this 40-day-long war for two weeks. This has extended Iran’s deadline to reopen the Strait of Hormuz. Crude oil prices saw a sharp 17% drop over 24 hours, moving to $92 per barrel.

Following the announcement, Bitcoin’s price shot up to $72,700, surging more than 10% from its intraday low of $66,000. The ripple effect is visible across the crypto market with altcoins like ETH, XRP, BNB, SOL, each gaining 4-6%.

Santiment also noted a sharp shift in social sentiment. For only the second time since the conflict began in late February, more than 1% of crypto-related discussions focused on the potential end of the war. The firm said the rise in optimistic sentiment suggests traders are viewing the ceasefire as a possible catalyst for broader crypto market recovery.

Bitcoin millionaire Anthony Pompliano noted that BTC has been less volatile is comparison to US equities and Gold during the war period. Bitcoin has emerged as a “shining light” during the ongoing Iran conflict, he said.

According to Pompliano, stocks, bonds, and even gold have declined, while Bitcoin has remained flat to slightly higher. This shows BTC’s greater strength during a risk-off environment. The analyst noted that this divergence challenges the narrative that Bitcoin simply behaves like a high-beta risk asset.

Pompliano said that Bitcoin volatility has compressed significantly, while demand remains stable. He added that this behavior suggests Bitcoin may be starting to decouple from traditional markets.

Will This Bitcoin Price Surge End Bear Market?

Crypto analyst Nic Crypto noted that Bitcoin price has moved back above the $71,000 level. Once again BTC is at a key resistance zone that has capped price rallies over the past several months.

The analyst also highlighted that Bitcoin is approaching a bullish weekly MACD crossover. Nic Crypto pointed out that the previous occurrence of a similar crossover was followed by a roughly 30% rally in the months that followed.

Crypto analyst Crypto Patel reported that Bitcoin price has reclaimed the $72,000 level after bouncing from a key support trendline near $65,000. However, the analyst noted that BTC remains below a major bearish order block around $76,000.

According to Patel, a higher-timeframe close above $76,000 could open the path for a rally toward the $86,000 to $90,000 range. On the downside, Patel warned that rejection at $76,000 could trigger another correction. This could potentially pushing Bitcoin below the $60,000 level.

Bitcoin Long-Term Holder Supply Flips Positive

Long term holder supply for Bitcoin has turned positive again, even as price volatility continues. BTC briefly climbed above $70,000 on April 6 but failed to hold gains. The Bitcoin price later slipped back toward $68,000.

On-chain data shows long-term holder supply increased over the past 30 days. The metric shifted from −674,000 BTC to +308,000 BTC.

Analysts noted the increase came mainly from coins aging past six months. This means the rise reflects coin maturity rather than fresh accumulation. Currently, 29% of long term holder supply is in loss. This remains below prior-cycle bottoms, which ranged from 44% to 53%.