Bitcoin Breaks $78K As Trump Says Iran Agreed To Suspend Nuclear Program

Bitcoin broke above $78,000 on Friday, April 17 as U.S. President Donald Trump revealed that Iran agreed to suspend its nuclear program. The statement signals that the US-Iran war could be close to resolution. It boosted the overall global market sentiment, splurging into the crypto market as well.

Bitcoin Reclaims $78K As US-Iran Conflict Nears Resolution

The BTC price surged over the $78,000 mark for the first time in 10 weeks. The level was seen as critical resistance zone as Bitcoin continued consolidating in the $70,000-75,000 zone. However, the potential resolution of the US-Iran war pushed BTC up by nearly 5% in a single day.

In a statement, Trump said that a deal to end the US-Israel-Iran war is “mostly complete.” He also noted that the countries are likely to resolve the matter during a discussion this weekend. Trump even added that the leaders have already finalized the “most important points,” per a Bloomberg report.

In addition, Iran opened the Strait of Hormuz for commercial use today. Iran’s Foreign Minister Seyed Abbas Araghchi wrote on X, “In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.”

However, things remain uncertain as the U.S. has vowed to sustain naval blockade in the Strait of Hormuz until a complete deal is in place. Meanwhile, Iran has threatened to close the waterways if U.S. continues the blockade.

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BTC Price Update As Geopolitical Tensions Ease

On Friday, the BTC price gained 4.83% to $77,576.62 at press time as the US-Israel-Iran dispute reached closer to a resolution. Previously, after the announcement on Iran suspending its nuclear operations, Bitcoin hit a high of $78,320.68 in the intraday trading session.

Analysts deem the $78,000 level as critical to hold for further upside. If sustained, Bitcoin could edge towards the $80,000 mark and beyond. Moreover, Polymarket traders are hopeful on BTC touching $80,000 this month with odds surging to 65% today.