Bitcoin rallied above $75,000 as ease tensions in the Middle East contributed to reducing the appetite for risk and led to influx 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 have all helped cool oil prices and improve sentiment for stocks and cryptocurrencies.
Bitcoin is now trading around $76,778, after reaching an intraday high of $78,240. However, the more important question is whether this move marks the start of a true six-figure race to $100,000.
Relief from geopolitics gave Bitcoin the boost it needed
The chain of events that caused Bitcoin to take off began in early April. Hours before US President Trump’s deadline, the United States and Iran reached a two-week temporary ceasefire agreement mediated by Pakistan, with formal peace talks planned in Islamabad.
Interestingly, major exchanges and markets the creators also acted 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 nearly $4.5 billion in Bitcoin.
Bitcoin’s latest price break above $75,000 in the past 48 hours was the 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 admissions on Friday alone, bringing the weekly total to $996.38 million. This steady influx of capital has helped Bitcoin regain levels it struggled to maintain earlier in April.
Sentiment data shows fear still dominates the market
Even though Bitcoin is trading at an 11-week high, on-chain sentiment data suggests the rally is not underway. supported by positive optimism. According to Santiment data, bearish comments are always dominating social discussions, with three negative comments for every two positive comments.
Data shows that even in recent price hikes, skepticism still outweighs enthusiasm. It is important to note that this type of environment has often aligned with continuation moves. When prices rise without a surge of optimism from the crowd, rallies tend to face less immediate selling pressure due to overheated positioning.
Bitcoin sentiment chart. Source: @santimentfeed On
The question now is whether these geopolitical tailwinds are enough to push Bitcoin from the current range of $76,000 to $78,000. up to six digits. The price rally broke a descending trendline that had capped gains since October 2025, when Bitcoin reached around $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 much more than simple geopolitical relief. Sentiment trends suggest that many traders expect Bitcoin to stagnate somewhere around the $80,000 zone. However, it is also a good sign that the rally could exceed the expectations of small traders and surpass $90,000.
Featured image from Pexels, chart from TradingView
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