Bitcoin Surpasses $75,000 as Iran Ceasefire Discussions Advance and Equity Rally Resumes

The price of Bitcoin has rebounded above $75,000, driven by market expectations of a diplomatic solution. With a 1.5% increase over 24 hours and a 1.7% rise over the week, Bitcoin's growth is accompanied by other cryptocurrencies such as Ether, XRP, and BNB, which have also seen notable gains. In contrast, Solana experienced more modest growth. The global equity market, measured by the MSCI All Country World Index, resumed its upward trend, led by Asian equities and the regional technology index. Meanwhile, the prices of Brent crude, gold, and silver have declined, and the values of Treasuries and the US dollar have remained relatively stable. As the two-week ceasefire deadline approaches on Wednesday, markets are closely watching the developments in the conflict and their potential impact on the global economy. The recent test of the Strait of Hormuz by three vessels, despite ongoing blockades, has added to the uncertainty. Bitcoin's performance has lagged behind the equity market in recent weeks, partly due to structural factors such as negative funding rates for bitcoin perpetual futures. However, the influx of capital into spot bitcoin ETFs and Ethereum spot ETFs has been significant, with net inflows reaching $996.4 million and $275.8 million, respectively. According to research firm Kaiko, a break above $76,000 could pave the way for further growth to $85,000. On the mining front, public mining companies have sold a record 32,000 BTC in the first quarter, exceeding the amounts sold in all of 2025 and after the Terra collapse in Q2 2022. The mining difficulty has decreased by 2.43% to 135.59 trillion, while the network's hashrate has recovered to 992 EH/s. Traders are now focused on whether Bitcoin can break through the $76,000 threshold, potentially triggering a short squeeze, or if it will decline below $74,000 if the ceasefire deadline passes without a deal. The mining data suggests that production economics remain under pressure, despite the recent price recovery, and a sustained rally above $80,000 would require absorbing continued treasury selling from miners.