Bitcoin Breaks 78,000. Easing US-Iran Tensions Fuel Rally, Can BTC Break the 80,000 Mark Today?

TradingKey - The U.S. reportedly lifted its naval blockade of Iran; Bitcoin prices are expected to break through $80,000 and challenge $85,000 by the end of April.

On April 22, tensions between the U.S. and Iran eased, driving Bitcoin ( BTC) prices up nearly 3%, breaking through $78,000 again after several days. Just now, Bitcoin's price surged to $78,369, touching its April 17 high, with the current price at $77,965.

According to Iran's Tasnim News Agency on April 22, Iran has received indications that the U.S. is prepared to lift the blockade. Furthermore, the Associated Press cited Amir Saeid Iravani, Iran's Ambassador to the United Nations, stating that his government has received signals that the U.S. is ready to end the blockade.

Following the failure of the first round of negotiations, Iran announced it would once again close the Strait of Hormuz and demand "tolls" of over $1 million per vessel attempting to pass. The U.S. immediately responded with a firm countermeasure; President Trump publicly warned Iran on social media on April 9 to cease the illegal toll collection and ordered anti-blockade actions against Iranian ports on April 13, announcing that any vessel that had paid illegal tolls to Iran would face interception and seizure by the U.S. military.

Now, with the U.S. reportedly halting its naval blockade of Iran, it not only signals a de-escalation but also helps facilitate a new round of U.S.-Iran negotiations. Yesterday (April 21), Iran refused to travel to Islamabad for talks; however, Iravani, Iran's UN Ambassador, stated, "Once Washington ends the blockade, I believe the next round of negotiations will be held in Islamabad."

Currently, neither side has officially announced details for renewed negotiations, but the action of the U.S. halting the blockade has already laid the groundwork. Moving forward, two developments will trigger significant volatility in Bitcoin prices: first, the announcement of details such as participants, venue, and timing; and second, the outcome of the negotiations.

Based on the nature of the events, the announcement of negotiation details is a definitive positive, favoring bulls to continue their momentum and potentially break the $80,000 mark. However, the outcome of the negotiations remains uncertain, making it difficult to determine whether it will be bullish or bearish. If both sides reach an agreement and resolve the conflict crisis, Bitcoin prices could climb further and stay above $80,000; however, if negotiations break down again, Bitcoin will inevitably fall back below $80,000.

From a technical analysis perspective, Bitcoin prices are steadily trending upward with strong bullish signals. Since March 4, the rebound highs for Bitcoin have been consistently rising—$73,000, $76,000, and $78,000—while the correction lows have also moved higher, forming a typical ascending channel. This indicates that bulls maintain a dominant advantage despite skepticism. With both fundamental news and technical factors aligned, Bitcoin is expected to rise toward $85,000 by the end of April.

Bitcoin price chart, Source: TradingView