Bitcoin don surge pass $79,000 as US-Iran truce extend
Bitcoin kpai above $79,000 on Apr 22 after President Donald Trump extend di ceasefire between US and Iran indefinitely, wey reduce short-term risk for Middle East conflict. Di move help restore market risk appetite and push Bitcoin reach 11-week high.
Bitcoin open near $76,342, peak at $79,214, and dey trade around $78,800–$78,900 (about +4.1% for di day). 24-hour volume pass $47B, continuing di rebound from di February low near $60,057. US equities also rise, S&P 500 up ~0.9% and Nasdaq up ~1.1%, givin weight to di story say “energy-shock fears dey cool down”.
On-chain and institutional signals still support market. Strategy report say dem buy 34,164 BTC for about $2.54B, make total holdings reach 815,061 BTC. Exchange-held BTC reserves drop to seven-year low (~2.21M BTC). Whale wallets dey accumulate, and short liquidations around $180M–$650M help push di upside. Coinbase Premium don stay positive for 14 days straight, show say US institutional demand still dey.
Traders focus dey shift: Bitcoin key support now be di ~$74,000–$76,000 breakout zone. Near resistance dey around $79,000–$80,000, with higher upside range $80,000–$85,000 if di truce hold through May. Ethereum and XRP also go up as sentiment turn risk-on.
Bullish
Di extension wey dem give U.S.–Iran ceasefire don reduce short-term geopolitical tail risk, e dey support wider risk-on environment. For Bitcoin specifically, di rally dey reinforced by institutional signals (Coinbase Premium don stay positive for 14 days) and flow dynamics wey dey lean to spot, plus on-chain tightening (exchange reserves dey seven-year low) and whale accumulation. Big short liquidations dey add mechanical boost to price.
For short term, traders likely go defend di newly defined $74,000–$76,000 support zone, while momentum buyers dey target $79,000–$80,000. Over di next few weeks, continuation to $80,000–$85,000 go depend if peace hold through May; if risk sentiment spoil, the move fit retrace back to support. Overall, balance of catalysts na net positive for Bitcoin price path.