Bitcoin has climbed back above $75,000 as easing Middle East tensions helped reduce risk appetite and led to inflows into the crypto industry. A 10-day ceasefire linked to the Israel-Lebanon front and Iran’s declaration that the Strait of Hormuz is open to commercial shipping all helped cool oil prices and improve sentiment across stocks and cryptocurrencies.
Bitcoin is now trading around $76,778, after touching an intraday high of $78,240. However, the most important question is whether this move is the start of a real run to six digits at $100,000.
Relief From Geopolitics Gave Bitcoin The Push It Needed
The chain of events that lifted Bitcoin began in early April. Hours before the deadline set by US President Trump, the US and Iran reached a two-week temporary ceasefire agreement mediated by Pakistan, with formal peace talks scheduled in Islamabad.
Interestingly, major exchanges and market makers also moved quickly. Binance purchased approximately 29,344 BTC, Coinbase bought 20,756 BTC, Kraken bought 8,600 BTC, and Wintermute and Bybit adding additional positions, transactions that together totaled close to $4.5 billion in Bitcoin.
The latest Bitcoin price breakout above $75,000 in the past 48 hours is a result of traders reacting to signs that geopolitical pressure may be easing, at least temporarily. At the same time, Spot Bitcoin ETFs recorded strong demand this week, including $663.91 million in inflows on Friday alone, pushing the weekly total to $996.38 million. That steady influx of capital helped Bitcoin recover levels it had struggled to hold earlier in April.
Sentiment Data Shows Fear Still Dominating The Market
Even as Bitcoin is trading its highest level in 11 weeks, on-chain sentiment data suggests the rally is not being backed by positive optimism. According to data from Santiment, bearish commentary is still dominating social discussions, with three negative comments for every two positive ones.
The data shows that even during recent price pushes, skepticism is still outweighing excitement. It is important to note that that type of environment has often aligned with continuation moves. When price rises without a surge in crowd optimism, rallies tend to face less immediate selling pressure from overheated positioning.
Bitcoin Sentiment Chart. Source: @santimentfeed On X
The question now is whether these geopolitical tailwinds are sufficient to carry Bitcoin from the current $76,000 to $78,000 band all the way to six figures. The price advance crossed a descending trendline that had capped rallies since October 2025, when Bitcoin reached approximately $126,000, but the 50-day exponential moving average is still below the 200-day EMA.
The path to $100,000 will likely depend on more than just geopolitical relief. Sentiment trends suggest that many traders expect Bitcoin to stall somewhere around the mid-$80,000 region. However, this is also a good sign that the rally could move past small traders’ expectations and rise above $90,000.
Featured image from Pexels, chart from TradingView
