Bitcoin soars to a three-week high! The U.S.-Iran "two-week negotiation window" begins. Can the crypto bull market reignite amid the momentum?

Zhitong Finance APP noted that after the U.S. and Iran reached a preliminary ceasefire agreement, Bitcoin rose to a three-week high, and risk assets followed with a broad-based surge.

The largest cryptocurrency surged as much as 4.9% at one point to $72,738, the highest level since March 18. Then the gains narrowed; as of the time of writing, Bitcoin was at $71,807.5. Other smaller tokens also jumped significantly, with Ether rising as much as 7.4% to $2,273.

Orbit Markets co-founder Caroline Mauron said: “With a temporary ceasefire and the market feeling relieved that the current situation has been prevented from escalating further into conflict, Bitcoin saw a gap-up this morning. Today’s cryptocurrency market may follow the moves of the stock market and commodity markets.”

After Trump agreed to suspend bombing Iran for two weeks, crude oil prices crashed, while the stock market surged, increasing hopes that the key Strait of Hormuz could reopen. Since war broke out in late February, markets have remained volatile as worries that oil supplies could be severely disrupted would drive up inflation and weigh on economic growth.

FalconX senior derivatives trader Ivan Lim said: “I still expect the market to stay volatile until I see a lasting solution. But overall, the tone is positive for now.”

In recent weeks, Bitcoin has shown relative resilience, with signs that institutional selling pressure may be easing.

Spot Bitcoin ETFs listed in the U.S. attracted $471.3 million in net inflows on Monday, extending last week’s $22.3 million inflow momentum, which stands in stark contrast to nearly $300 million of outflows in the prior week. In March, ETFs recorded about $1.3 billion in net inflows—returning to stability after four consecutive months of net outflows that began in November 2025.

At present, Bitcoin is down more than 40% from its all-time high of over $126k set in October.

BTSE chief operating officer Jeff Mei said: “The likelihood of a bull market depends on how oil and gas supplies recover in the coming months and the impact on inflation.” He added that if inflation falls enough and the Federal Reserve decides to resume rate cuts, “crypto prices could see another rebound.”