Bitcoin briefly climbed above $79,000 in late April, its highest level since early February, before paring gains as markets reassessed developments in US–Iran tensions. According to a report from Axios, Iran has submitted a new proposal to Washington aimed at de-escalating the situation and restoring access to the Strait of Hormuz. This strategic waterway has been a central flashpoint in the conflict, with shipping disruptions contributing to volatility across broader risk assets.
Despite the market turbulence, Bitcoin has remained notably resilient, rising more than 16% so far this month and on track for its first double-digit monthly gain since May 2025. The move has been supported in part by a sharp rebound in inflows to US-listed spot Bitcoin ETFs, which have totaled roughly $2.5 billion in April, putting the month on pace to more than double March’s figure. This turnaround comes after four straight months of net outflows, before institutional demand began to recover in March.
