Bitcoin rose again above $75,000 Reducing tensions in the Middle East It helped reduce the appetite for risk and led to… Flows into the crypto industry. A 10-day ceasefire linked to the Israeli-Lebanese front and Iran’s announcement that the Strait of Hormuz is open to commercial shipping helped calm oil prices and improve sentiment across stocks and cryptocurrencies.
Bitcoin is now trading at around $76,778 Touching an intraday high of $78,240. However, the more important question is whether this move is the beginning of a real climb to six figures at $100,000.
Relief from geopolitics gave Bitcoin the boost it needed
The chain of events that led to Bitcoin’s rally began in early April. Hours before US President Trump’s deadline, the United States and Iran reached a temporary two-week ceasefire agreement brokered by Pakistan, and formal peace talks are scheduled to take place in Islamabad.
Interestingly, the major stock exchanges and the market Makers also moved quickly. Binance purchased approximately 29,344 BTC, Coinbase purchased 20,756 BTC, Kraken purchased 8,600 BTC, and Wintermute and Bybit added additional positions, transactions that together totaled approximately $4.5 billion in Bitcoin.
The recent breakout of Bitcoin price above $75,000 over the past 48 hours is a result of traders reacting to signals that geopolitical pressure may be easing, at least temporarily. At the same time, Bitcoin ETFs Recorded strong demand This week, including inflows of $663.91 million on Friday alone, bringing the weekly total to $996.38 million. This sustained influx of capital has helped Bitcoin regain levels it struggled to hold earlier in April.
Sentiment data shows that fear still dominates the market
Even with Bitcoin trading at an 11-week high, on-chain sentiment data suggests the rally has not happened Backed by positive optimism. According to data from Santiment. The comment remains bearish It dominates social discussions, with an average of three negative comments for every two positive comments.
The data shows that even during recent price increases, skepticism continues to outweigh excitement. It is important to note that this type of environment often goes along with constant movements. When the price rises without an increase in crowd optimism, rallies tend to experience less immediate selling pressure than frenetic positions.
Bitcoin sentiment chart. Source: @santimentfeed on X
The question now is whether these geopolitical tailwinds are enough to move Bitcoin from the current range of $76,000 to $78,000. All the way to six figures. The price advance has crossed the descending trend line that has capped the rallies since October 2025, when Bitcoin reached nearly $126,000, but the 50-day EMA is still below the 200-day EMA.
The path to $100,000 will likely depend on… More than just geopolitical relief. Sentiment trends indicate that many traders expect Bitcoin to stall somewhere near the $80,000 area. However, this is also a good sign that the rally could exceed the expectations of small traders and rise above $90,000.
Featured image from Pexels, chart from TradingView
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