Bitcoin and XRP prices saw a strong rally after Iran opened the Strait of Hormuz, lifting overall cryptocurrency sentiment. The worldwide cryptocurrency market rose by 3.79% in 24 hours pushing the market capitalization to approximately $2.77 trillion.
BTC price increased rose 4.97% to $77,884, briefly touching $78,000 for the first time since February 3. The total market capitalization has also risen to more than $2.7 trillion, which was last seen in January. Ethereum price rose above $2,400 during the broad advance. XRP continued to rise, surpassing the $1.48 level as buying pressure grew stronger.
Iran announces opening of the Strait of Hormuz amid ceasefire talks
Iran announced Strait of Hormuz Completely open to commercial shipping during the ongoing ceasefire period.
This was announced by the Iranian Foreign Minister during a new wave of diplomatic talks with the United States. The Strait remains one of the most important energy transit routes in the world.
However, later, state media in Iran created uncertainty about the reopening being fully implemented. A number of shipping companies are said to be taking necessary precautions even after the announcement. Marine operators are on alert as tensions in the region have not yet subsided.
US President Donald Trump said that the US naval blockade will be in place. He indicated that the restrictions will continue until a complete agreement is reached with Iran. Trump was optimistic that they would reach an agreement in the coming days. He also stated that he believes formal peace talks will be held this weekend.
Iran announces the reopening of the Strait of Hormuz as a result of the ceasefire between Israel and Lebanon.
Tehran says the strait will remain open for the remaining five days of the ceasefire. pic.twitter.com/E4Koak6r8N
– Decay and disrespect (@VictorKvert2008) April 17, 2026
The US administration is considering releasing 20 billion Iranian dollars. Trump also indicated that the United States may want to seize Iran’s enriched uranium stockpile.
In Lebanon, a 10-day ceasefire appears to be taking hold. A ceasefire between Israel and Hezbollah, the dispute of which complicated the negotiations. Trump stressed that the ceasefire in Lebanon does not affect the negotiations with Iran. He also stated that Israel is not allowed to attack at this time.
Bitcoin and XRP Prices Rise as ETF Flows Add Gains: Will BTC Reach $80K This Week?
Bitcoin and XRP prices have seen an increase over the past 24 hours as buyers return to the market. Bitcoin price rose 4.41% to trade at $77,492, showing resilience in the upward momentum.
Maintaining support near $76,420 could pave the way for another bullish push. It appears that there may be a retest of the 78320 high as the strength continues. An aggressive move beyond $79,000 could pave the way to $80,000 according to Bitcoin future predictions.
On the downside, a drop below $75,246 could pressure prices to the 50-day moving average. These levels are closely monitored by traders to ascertain the direction of the trend.
Institutional demand was also stable on April 16 based on ETF data. Spot Bitcoin ETFs had a net inflow of $26.05 million, which was the continuation of a three-day streak.
Ethereum ETFs received inflows of 18.02 million, the sixth straight session of inflows. Solana funds contributed an additional $15.50 million, and spot XRP funds contributed $11.87 million.
April 16: Bitcoin ETFs saw inflows of $26.05 million, over 3 days
On April 16 (ET), Bitcoin ETFs recorded total net inflows of $26.0511 million, extending a 3-day streak of net inflows. Ethereum ETFs saw total net inflows of $18.0209 million, marking 6 consecutive days of… pic.twitter.com/g01pANvDvB
— Wu Blockchain (@WuBlockchain) April 17, 2026
Ripple price 4% to $1.48. Staying above $1.44 could support a rise towards $1.50 and $1.55. The next support level will be revealed at $1.38 in the event of a breakdown. The April 22 ceasefire deadline with Iran remains a subject of great focus.
