Bitcoin hits 12-week high around $80,000 on US-Iran deal hope
On Monday, Bitcoin maintained a gradual rise toward $80,000 as investors considered the recent developments in the US-Iran standoff concerning the Strait of Hormuz. The original cryptocurrency experienced an increase of up to 1.6 percent, reaching $79,488, marking its highest point since January 31, when it last surpassed $80,000. At 12 p.m. in Singapore, it was trading at approximately $79,100. Ether, the second-largest digital asset, experienced an increase of up to 1.7 percent.
Asian shares saw an uptick on Monday after it has reported that Iran has presented a new proposal to the US regarding the reopening of the Strait of Hormuz. The closure of the vital trade waterway has caused fluctuations in oil and risk assets amid the ongoing conflict involving the US and Israel. Crude oil also reduced its earlier gains. “The risks are real. US-Iran peace deal odds have collapsed, a macro overhang that could reprice risk assets broadly,” said Rachael Lucas. “$80,000 is where many recent buyers are approaching breakeven, which is typically where selling pressure emerges as they rotate out of their positions.”
Bitcoin has been steadily moving back toward the $80,000 mark in recent sessions as traders covered short positions and institutional demand showed signs of improvement. The token has risen by 16 per cent thus far in April, positioning it for its first monthly double-digit gain since May 2025. The Bitcoin accumulator Strategy Inc., led by Michael Saylor, has acquired $3.9 billion worth of the token this month, marking the highest purchase in a year, as per company data.
This month, there has been a significant resurgence in demand for US-listed spot Bitcoin ETFs. In April, net inflows have reached approximately $2.5 billion, positioning it to potentially double the total from March. In March, institutional buyers made a comeback to the funds following a streak of four consecutive months marked by net outflows.
