Bitcoin has showed a huge rally touching a 12-week high before retreating slightly amid the signs about the progress of US-Iran talks to end the West Asia conflict. Bitcoin hit $79,488, its highest level since January 31, before giving up gains to trade around $77,000. The cryptocurrency has been grinding back toward the $80,000 level in recent sessions, and the token is up 13% so far in April. The rally has been putting it on pace for its first monthly double-digit gain since May 2025.
Bitcoin ETFs have also seen a notable recovery in demand this month with the net inflows in April have reached roughly $2.5 billion, on pace to double March’s total, Bloomberg reported.
Elevated oil prices above $100 a barrel are complicating the inflation outlook, diminishing prospects for near-term Fed rate cuts and keeping bitcoin stuck below key technical resistance around $80,700, a report by CoinDesk said.
A potential slowdown in AI demand, highlighted by OpenAI missing revenue targets, could eventually curb bitcoin miner selling, it added.
Sumit Gupta, Co-Founder, CoinDCX said Bitcoin’s move to a 12-week high underscores how closely digital asset markets are increasingly responding to broader macroeconomic and geopolitical developments.
On the recent rally in the crypto, Gupta said, "Optimism around a potential Iran deal and easing global tensions has improved risk sentiment across markets, with crypto participating meaningfully in that shift. Bitcoin crossing key liquidity levels also suggests that investors are closely tracking macro signals, institutional flows, and on-chain momentum, a reflection of the growing maturity of the asset class."
"A key driver behind this rally has been sustained institutional participation. Strong Spot Bitcoin ETF inflows including roughly $1 billion in net inflows per week and nine consecutive days of positive flows at one stage indicate that institutional demand remains robust despite prevailing uncertainties. That demand, alongside improving market sentiment, has helped support Bitcoin’s move higher," he added.
Iran has proposed a new deal to reopen the Strait of Hormuz. The indication has initially given a boost to the investor sentiment, although a rise in oil prices put a damper on risk appetite.
"This rally reflects the resilience of crypto markets amid continued volatility. Investors are increasingly looking beyond short-term price action and viewing Bitcoin as a long-term strategic asset within diversified portfolios. Broader participation across assets such as Ethereum and Solana also points to improving confidence across the digital asset ecosystem, though the mixed performance in altcoins suggests this remains a measured recovery rather than a euphoric risk-on phase," Gupta said.
"While near-term momentum is constructive, investors should remain focused on disciplined investing, risk management, and long-term value creation, rather than reacting to short-term speculative moves."
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