Bitcoin Hits Three-Week High After US-Iran Ceasefire Plan
Bitcoin rallied to its highest level in three weeks after the United States and Iran agreed to a preliminary ceasefire, fueling a rally in risk assets. Market sentiment improved as market participants assessed the risk of a temporary escalation of the conflict as easing, following a period of volatility fueled by concerns about energy supply disruptions and their impact on inflation and growth.
The largest cryptocurrency briefly surged as much as 4.9% to US$72,738, its highest level since March 18, before trading just below US$72,000 at 8:25 a.m. in Singapore. Altcoins also rallied, with Ether rising as much as 7.4% to US$2,273, reflecting a broadening of risk appetite across the crypto market.
Caroline Mauron, co-founder of Orbit Markets, said Bitcoin's rally was driven by a "temporary ceasefire" and "relief" that further escalation had been avoided for now. He added that the crypto market likely took direction from the day's stock and commodity movements, confirming a strengthening correlation when macro and geopolitical narratives dominate.
In other markets, crude oil corrected and US stock index futures rose after President Donald Trump approved a two-week suspension of bombings against Iran, raising hopes for the reopening of the Strait of Hormuz. Since the war began, markets have fluctuated due to concerns that major disruptions to oil flows could trigger inflationary pressures and weigh on global growth prospects, so geopolitical shifts directly impact investor positioning.
In terms of institutional flows, Bitcoin has been relatively resilient in recent weeks, with signs of easing selling pressure. US-listed spot Bitcoin ETFs recorded net inflows of US$471.3 million on Monday, following inflows of US$22.3 million last week, a sharp reversal from outflows of nearly US$300 million the previous week. Throughout March, total net inflows from ETFs were around US$1.3 billion, marking a stabilization after four consecutive months of net outflows since November 2025. (asd)
Source: Newsmaker.id
