Bitcoin Rebounds to $71,000 as US-Iran Ceasefire Lifts Market Sentiment
Jakarta, Pintu News – Bitcoin (BTC) rose to its highest level in three weeks after the United States and Iran agreed to a preliminary ceasefire, which boosted riskier assets.
The crypto with the largest market capitalization briefly jumped 4.9% to $72,738, its highest level since March 18, and was trading just below $72,000 at 8:25 a.m. Wednesday in Asia. Smaller-cap tokens also recorded significant gains, with Ethereum (ETH) briefly rallying up to 7.4% to $2,273.
Then, how is the current Bitcoin price movement?
Bitcoin Price Up 3.36% in 24 Hours
On April 8, 2026, Bitcoin was trading at $71,386, or around IDR 1,217,035,972, after gaining 3.36% over the past 24 hours. During that period, BTC fell to a low of IDR 1,162,337,980 before climbing to a daily high of IDR 1,239,611,840.
At the time of writing, Bitcoin’s market capitalization stood at approximately IDR 24,325 trillion, while its 24-hour trading volume jumped 28% to IDR 980.55 trillion.
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Bitcoin Prices Rise, Crude Oil Prices Fall Sharply
“Bitcoin is surging this morning on the back of a temporary ceasefire and easing fears that further escalation can be avoided for now,” said Caroline Mauron, co-founder of Orbit Markets.
“The crypto market is likely to follow the direction of stocks and commodities today.”
Crude oil prices fell sharply, while US stock index futures surged after President Donald Trump approved a two-week suspension of bombing raids on Iran. The move raised hopes that the Strait of Hormuz, a crucial shipping lane, could reopen.
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Since the war began, markets have been volatile due to fears that major disruptions to oil flows would trigger inflation and depress economic growth. In recent weeks, Bitcoin has been quite resilient, as there are indications that selling pressure from institutional investors is starting to ease.
US-listed spot Bitcoin ETFs posted net inflows of $471.3 million on Monday, building on inflows of $22.3 million in the previous week. This was a sharp reversal from the nearly $300 million outflow in the previous week.
Throughout March, the ETF recorded net inflows of about $1.3 billion, marking a stabilization after four consecutive months of net outflows that began in November 2025.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- Bloomberg. Bitcoin Jumps to Three-Week High on US-Iran Ceasefire Plan. Accessed on April 8, 2026