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Bitcoin price surpassed $79,000 as Trump extended the US–Iran truce; S&P 500 rises
On Wednesday, Bitcoin climbed to an 11-week high, surpassing $79,000 after President Donald Trump extended the truce between the United States and Iran indefinitely, easing concerns about a renewed Middle East conflict that had pressured global markets for weeks.
Key takeaways:
- On April 22, 2026, Bitcoin exceeded $79,000, reaching an 11-week high after Trump extended the US–Iran truce.
- This week, Strategy purchased 34,164 BTC worth $2.54 billion, marking the third-largest weekly purchase volume in history.
- Analysts at JPMorgan forecast the S&P 500 to rise to 7,600 points, while Bitcoin bulls expect prices to reach $80,000–$85,000 if peace holds through May.
US markets and Bitcoin rise after Trump extends Iran truce
Trump announced the extension on April 21, ahead of the scheduled expiration, citing internal divisions within Iran’s leadership and the need for a unified peace proposal from Tehran. Pakistani mediators had requested the extension. The announcement removed the immediate threat of renewed conflict near the Strait of Hormuz, which Iran had kept open but where US blockades, ship seizures, and attacks maintained high tensions.
On April 22, Bitcoin opened around $76,342 and reached a daily high of $79,214, before stabilizing in the $78,800–$78,900 range, gaining approximately 4.1% for the day. Daily trading volume exceeded $47 billion. This marked the strongest single-day gain in recent weeks and extended recovery from the yearly low near $60,057 recorded on February 6.
US equities rose simultaneously. The S&P 500 gained about 0.9% to around 7,125, approaching record highs set earlier in the month. The Nasdaq Composite rose 1.1% to roughly 24,540, led by technology and AI sector companies. The Dow Jones Industrial Average gained about 0.8%, trading near 49,530.
Strategy reported its third-largest weekly Bitcoin purchase ever for the period ending April 19: 34,164 BTC acquired for approximately $2.54 billion at an average price of $74,395 per coin. Total holdings reached 815,061 BTC. Strategy’s preferred instrument, STRC, has attracted around 77,000 BTC year-to-date, surpassing net inflows across all US spot Bitcoin ETFs combined.
Inflows into spot Bitcoin ETFs remained steady throughout the week. BlackRock’s IBIT and other funds recorded hundreds of millions in net inflows on certain days, including one week where total ETF demand reached approximately $996 million — the highest since mid-January.
On-chain conditions also supported the move. Bitcoin reserves on exchanges fell to a seven-year low near 2.21 million BTC, signaling reduced short-term selling pressure. Whale wallets accumulated several hundred thousand BTC over the past 30 days. Leveraged short liquidations were estimated between $180 million and $650 million during recent key moves, amplifying price gains.
Ethereum, XRP, and a wide range of altcoins and meme tokens rose alongside Bitcoin amid the same risk-on shift. The rally continued a broader April trend: the S&P 500 gained roughly 8% month-to-date at session open, driven by AI optimism and earlier progress in the truce, while Nasdaq recorded one of its longest winning streaks in decades earlier this month.
Strong earnings from Amazon, Microsoft, and Oracle supported the tech-heavy index, with AI infrastructure spending continuing as a tailwind for the sector. Expectations of Federal Reserve rate cuts, fiscal stimulus under the proposed “One Big Beautiful Bill,” and resilient US economic growth also provided underlying support for equities.
For Bitcoin, the $74,000–$76,000 range became short-term support after the breakout. Traders and analysts identify $79,000–$80,000 as the next resistance zone, with higher levels at $85,000–$88,000. The February low near $60,000 and the $70,000 range serve as downside reference points.
JPMorgan and other institutional desks maintained bullish targets for the S&P 500 near 7,600 following easing geopolitical tensions. Bitcoin bulls are targeting $80,000–$85,000 if momentum holds, though some Wall Street analysts remain cautious in long-term outlooks.
Later in the session, Iran reportedly struck vessels in the Strait of Hormuz, although market sentiment had already been established prior to these reports.
See also: "XRP Price Revisits $1.40 Level, Recovery Hopes Hang In Balance"
