Bitcoin (BTC), which has slowly risen in price over the last couple of weeks, is slowly gaining momentum. The asset briefly reached the $78,000 level today but faces substantial resistance. BTC has finally reached $78,000 after a period of nearly three months. This asset was last seen at this level in February. According to CoinGecko’s BTC data, Bitcoin’s price has surged 2.5% in the last 24 hours, 5.3% in the last week, 8.9% in the 14-day charts, and 13.8% over the previous month. The asset’s price is down 11.7% on the annual charts. Let’s discuss if Bitcoin (BTC) is in the early stages of another bull run.
Bitcoin on the verge of another bull market?
Bitcoin’s (BTC) latest upswing is likely due to President Trump wanting to make a nuclear deal with Iran at the earliest. The US-Iran dispute has caused investors to be very concerned, but the Middle East conflict may be coming to an end. Investor sentiment could be boosted by a deal between Iran and the US. The price of crude oil, natural gas and other commodities will also drop if this war ends. This could increase the risk of investments. Bitcoin (BTC), which is a cryptocurrency, could benefit greatly from this development.
Kevin Warsh, who will become the Federal Reserve’s new chief in May. We could still see rates drop next month, even though the odds of a rate cut in April 2026 are low. Bitcoin (BTC), if it experiences a rate reduction, could enter another phase of growth. Warsh is likely be more inclined towards President Trump’s desires of reducing interest rates.
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Bitcoin (BTC), and perhaps the entire crypto market, could experience a new bull run if both the developments mentioned above come into light. Retail investors’ risk appetite remains low, and this could be a challenge for a bull run.
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Source: watcher.guru
