Impact of US-Iran Ceasefire: Bitcoin Price Surges to Break Rp1.2 Billion

Geopolitical tensions between the United States and Iran have eased temporarily, immediately sparking a sharp surge in the cryptocurrency market, with Bitcoin taking centre stage. Following the announcement of a two-week ceasefire, Bitcoin’s price jumped significantly and briefly broke through the psychological level of US$72,000 or approximately Rp1.22 billion (at an exchange rate of Rp17,000). This surge occurred within hours of the announcement. Bitcoin was recorded to have risen by around 5% and reached a daily peak in the range of US$72,753, before a slight correction but still holding above US$71,000. This marks the first time since mid-March that the world’s largest cryptocurrency has returned to that level. As is known, in his statement, US President Donald Trump said he would suspend bombing and attacks against Iran for two weeks. Meanwhile, the Iranian side described this agreement as a “bilateral ceasefire” and opened the door for further negotiations. Previously, Tehran had also submitted a 10-point proposal that Trump called a “viable basis” for further discussions. The cryptocurrency market’s reaction to these developments was swift. In addition to Bitcoin, several other digital assets such as Ethereum, Solana, and XRP also recorded sharp increases within 24 hours. However, Bitcoin remains the primary indicator of market sentiment. This price increase is inseparable from the drastic change in investor sentiment. Previously, the Crypto Fear and Greed Index had been at the “extreme fear” level, reflecting high concerns due to the escalating conflict. However, after signals of de-escalation, sentiment quickly reversed to become more optimistic, driving widespread buying action. Nevertheless, analysts warn that this rally is still short-term in nature and highly dependent on developments in the situation over the next two weeks. “The key question is whether negotiations will make progress in the next two weeks. That will determine whether this is just a temporary rally or develops into a more sustainable de-escalation,” said Charu Chanana, an analyst from Saxo, as quoted from Trending Topics on Wednesday, 8 April 2026. On the other hand, movements in the energy market have gone in the opposite direction. Global oil prices have plunged sharply after previously surging due to the closure of the Strait of Hormuz, a vital route for about 20% of global oil distribution.