Bitcoin Surges 2.5% to $77.6K Amid US Pledge to Extend Iran Ceasefire Agreement

Bitcoin Rallies Above $77,000 as US-Iran Ceasefire Extended

Bitcoin surged sharply from a low of $74,874 on early April 22 trade, but recovered gains to trade at $77,608 (09:24 IST), up 2.50 percent over the last 24 hours as the US announced to extend the Iran ceasefire. The US President Donald Trump, on April 21, said the ceasefire with Iran will remain in place until Tehran submits a proposal and negotiations are brought to a conclusion.

The rally has been supported by a sustained increase in buy-side volume and accumulation of Bitcoin by whales. According to Akshat Siddhant, Lead quant analyst at Mudrex, whales have accumulated over 45,000 BTC in the past week, the highest since July 2025, while ETFs recorded $238 million in inflows. Retail investors could take this as an accumulation opportunity with a long-term view.

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The higher move in Bitcoin has been accompanied by significant derivatives activity. According to CoinGlass data, over the past 24 hours, 114,045 traders were liquidated, with total liquidations reaching $330.56 million, highlighting a squeeze on leveraged positions that helped accelerate the upside.

Growing institutional acceptance is also supporting sentiment. Notably, Fed Chair nominee Kevin Warsh recently stated that crypto is now part of the US financial system, reinforcing the asset class's increasing integration into mainstream finance.

From a technical standpoint, the structure remains constructive. Bitcoin continues to hold above the $73,000 support zone, keeping the path open toward $78,000–$80,000, while Ethereum remains supported above $2,250, with a break above $2,400 likely to drive further upside. Overall, the market is showing signs of a controlled bullish continuation, with strength across major assets and dips continuing to attract buyers rather than signaling exhaustion.

Other major cryptocurrencies followed the cue, with Ethereum up 2.29 percent, XRP 1.27 percent, BNB 1.62 percent, Solana 2.34 percent, Dogecoin 1.52 percent, whereas Hyerpliquid fell 2.62 percent, Tether 0.02 percent, while TRON largely remained flat.

Read also: Bitcoin Surges Past $78,500 Amid Growing Bullish Sentiment Fueled by ETF Inflows

Investors should focus on staggered accumulation strategies, such as SIPs, rather than chasing breakouts. Short-term volatility is likely around upcoming macro events. Risk management remains critical, especially in leveraged trades. Patience will matter more than timing in the current cycle.