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Bitcoin showed a strong rally, soaring to $78,320.68 intraday, absorbing both the easing of geopolitical risks and expectations of liquidity.
According to CoinMarketCap as of 5:35 AM on April 18, Bitcoin (BTC) was trading around $77,226, up 5.42% over the past 7 days. Its market capitalization remained at approximately $1.5458 trillion, and Ethereum (ETH) rose 7.44% over 7 days to $2,419. XRP (Ripple) surged 8.50% over 7 days to $1.47, showing the strongest upward trend among major altcoins.
The key background for this rally is the easing of Middle East risks. Iran's full opening of the Strait of Hormuz during the ceasefire period quickly resolved energy supply uncertainties, leading to a sharp drop in international oil prices. Brent crude fell 9.1% to $90.38, and WTI plunged 11.5% to $83.85, rapidly lowering inflationary pressures. This acted as a crucial variable stimulating investment sentiment across risk assets.
Global stock markets also reacted strongly. In the New York stock market, the Dow Jones Industrial Average rose 868.71 points to 49,447.43, and the S&P 500 broke the 7,100 mark for the first time in history, reaching 7,126.06. The Nasdaq continued its longest winning streak since 1992, rising for 13 consecutive trading days to 24,468.48. The CBOE Volatility Index (VIX) fell to 16.87, indicating a significant easing of market anxiety. This 'risk-on' environment flowed directly into the cryptocurrency market, driving Bitcoin's rise.
Internal market indicators are also positive. The Fear & Greed Index entered the 'Greed' zone at 63, and the Altcoin Season Index was 35, indicating a gradual signal of fund rotation amidst Bitcoin-centric gains. Indeed, major altcoins such as Solana (SOL), Dogecoin (DOGE), and Hyperliquid also recorded 7-day gains of 3-6%, confirming a widespread buying trend across the market.
The key going forward will be oil prices and interest rate expectations. If oil prices stabilize in the low $80s, expectations of slowing inflation will strengthen, likely expanding expectations for a Fed rate cut. This could serve as a core fuel for further Bitcoin appreciation. Conversely, if the situation in the Strait of Hormuz deteriorates again or oil prices rebound sharply, the upward trend could be temporarily constrained.
*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.*
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