Bitcoin climbed above $74,000 in mid-April, its highest level in four weeks, supported by improved appetite for risk assets amid hopes that the US and Iran may be open to resuming peace negotiations. The advance followed comments from US Vice President JD Vance, who said further progress now depends on Tehran, after weekend talks failed to yield a breakthrough. President Donald Trump also stated that Iran had contacted his administration about possible peace talks, even as Washington maintained a naval blockade of the Strait of Hormuz.
Analysts noted that Bitcoin continues to outperform broader risk assets, remaining more than 10% higher since the onset of the Iran war. However, they cautioned that a substantial further rally may be unlikely until the US implements the Clarity Act to establish more definitive rules for digital assets. US SEC Commissioner Hester Peirce similarly indicated that she supports a more permanent framework for defining broker rules in cryptocurrency markets.
