Written by Ciaran Lyons, Staff WriterReviewed by Felix Ng, Staff EditorBitcoin reclaims $72K after US, Iran agree to 2-week ceasefire9 hours agoIran’s Supreme National Security Council on Wednesday accepted a two-week ceasefire with the US, but emphasized this did not mean an end to the war. Listen0: 00 Cointelegraph in your social feed The price of Bitcoin pushed past $72,000 for the first time in 20 days after the US and Iran agreed to a two-week ceasefire. “I agree to suspend the bombing and attack of Iran for a period of two weeks, ” US President Donald Trump said in a Truth Social post on Tuesday, hours before his deadline for Iran to reopen the Strait of Hormuz or face military attacks on key infrastructure. Iran’s Supreme National Security Council also said it accepted the ceasefire. Iranian Foreign Minister Abbas Araghchi said, “If attacks against Iran are halted, our Powerful Armed Forces will cease their defensive operations. ”“For a period of two weeks, safe passage through the Strait of Hormuz will be possible via coordination with Iran’s Armed Forces and with due consideration of technical limitations, ” Araghchi said. Crypto traders watch prices around geopolitical tensions closelyBitcoin (BTC) climbed 2.6% in the hour following the announcement, reaching $72,339 at the time of publication, according to CoinMarketCap. Crypto traders have historically seen geopolitical tensions as a headwind for prices, with any hints of easing often triggering quick relief rallies. The ceasefire agreement also came hours after Trump renewed his threats against Iran. “A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will, ” Trump said in a post on Monday. On April 1, Trump said the US could wrap up its military campaign in Iran within weeks, claiming the goal of eliminating Iran’s nuclear capabilities had been achieved. Related: Bitcoin wallets absorb 4.37M BTC as network activity flips to ‘bull phase’The last time Bitcoin traded above $72,000 was March 18, as sentiment continues to drag in the crypto market. Analysts were tipping a near-term reversalBitcoin’s upward price move came just a day after MN Trading Capital founder Michael van de Poppe said that “the decision for direction isn’t that far away, ” adding: “Well, because it did reject at $70K again, and it’s having higher lows, with its recent higher low at $66.5K.
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