Summary
- Bitcoin (BTC) extended its gains and reclaimed the $78,000 level.
- The rally was driven by a combination of the US decision to extend the ceasefire with Iran and institutional inflows.
- Strategy, led by Michael Saylor, made an additional purchase of 34,164 BTC, while the risk of greater volatility tied to the Middle East remains.
Forecast Trend Report by Period
Bitcoin extended its advance and climbed back above $78,000.
As of 2:23 p.m. on April 22, Bitcoin was trading at $78,068.63 on Binance's USDT market, up 2.82% from a day earlier. On Upbit's won market, it gained 1.97% to 115.3 million won.
Major altcoins including Ether also moved higher. Ether traded at $2,392.09 on Binance's USDT market, up 3.07% from a day earlier, while XRP changed hands at $1.4575, up 1.94%.
The rally appeared to reflect a combination of easing geopolitical tensions after the US decided to extend a ceasefire with Iran and continued institutional inflows. President Donald Trump's decision to prolong the ceasefire to keep negotiations going helped ease some short-term risk premium.
Investor sentiment was also supported by Strategy, led by Michael Saylor, which bought an additional 34,164 Bitcoin for about $2.54 billion. The purchase was the company's largest since 2024 and increased its total holdings to 815,061 Bitcoin.
The market rebound has continued in the short term as geopolitical developments and institutional buying reinforced each other. At the same time, the potential for higher volatility remains because risks in the Middle East have not been fully resolved.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
