Bitcoin climbed to approximately $71,500 on April 7 after US President Donald Trump announced a two-week pause on planned military strikes against Iran, signalling potential de-escalation.
The pause was linked to Iran agreeing to reopen the Strait of Hormuz and engage in negotiations, reducing immediate risks to global energy supply and broader financial markets.
“Complete, immediate, and safe reopening of the Strait of Hormuz,”
Trump said in a Truth Social post outlining conditions tied to the temporary halt in military action.
Trump said the decision followed direct discussions with Pakistan’s leadership and claimed the US had largely achieved its military objectives while nearing a longer-term peace framework.
He added that Iran had submitted a 10-point proposal viewed by Washington as a workable foundation for negotiations, reinforcing expectations of a diplomatic breakthrough.
Markets reacted swiftly to the announcement, with Bitcoin rising nearly 3% and broader risk assets stabilising as traders adjusted positions to reflect lower escalation risk.
The development followed heightened tensions ahead of Trump’s self-imposed deadline for potential strikes, with the newly announced negotiation window shifting investor focus back towards diplomacy and regional stability.
At the time of reporting, Bitcoin price was $71,940.46.