As international oil prices fall, Bitcoin 'flourishes'... Sets new record high in 4 weeks

▲ Bitcoin, Oil Prices ©

Bitcoin (BTC) broke past its one-month high of $75,859, fueled by a double boon: easing geopolitical tensions related to the Iran conflict and a drop in international oil prices. Suppressed investor sentiment exploded, leading to an 88% surge in trading volume, and a strong bullish trend is palpable across the entire cryptocurrency market.

According to investment media outlet FX Leaders on April 14 (local time), Bitcoin defied analysts' concerns about the worsening situation in Iran, surging to $75,859 on the back of positive market sentiment. Throughout this week, hopeful observations that the Iran conflict could soon end strongly pushed up the price.

Along with the price surge, trading volume also exploded. On Tuesday, the 24-hour trading volume recorded $58.97 billion, an 88% increase from the previous day. This level is close to this year's peak, suggesting further upward movement with strong investor support amidst the Middle East crisis. Indeed, Bitcoin surged 10% since the start of the conflict, significantly outperforming stock market returns.

This new 4-week high was driven by a decline in international oil prices and a rise in stock index futures. On Tuesday, Brent crude fell by 3.48% and West Texas Intermediate (WTI) by 5.62%, dropping significantly below $100 per barrel, with some experts predicting a fall to $88 within weeks. Adding to this, expectations for peace talks between the U.S. and Iran, scheduled to resume this week, further ignited the market's bullish momentum.

The dominant run of the market leader led to a revival across the entire altcoin market. Ethereum (ETH) surged by 8.42%, and XRP (Ripple) also rose by 2.96%, painting the entire cryptocurrency market red (bullish). While some fatigue due to the short-term surge has been noted, Bitcoin appears ready to reclaim its 2026 peak, having established a robust structural support level around $74,000.

If the U.S. and Iran sit down for talks and further drive down oil prices, there is ample potential for Bitcoin to run towards even higher peaks soon. Rapid changes in the Middle East situation signify a major inflection point in order books, thus requiring agile responses from investors. With losses accumulated since last October rapidly recovering, current market sentiment is at its highest in recent months.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*