Bitcoin (BTC) breaks USD 74,000 with bullish sentiment after U.S.-Iran negotiations were suggested. The price had gained steam and could easily clear the road to USD 75,000 after President Trump announced that the US Navy had begun patrolling the Strait of Hormuz and that Iranian officials may be open to negotiations.
What’s Driving the Rally
As of April 14, 2026, the U.S. had started implementing its maritime blockade against Iran, with Trump stating that he would sink any Iranian vessel entering the strait. Oil prices had increased significantly over the weekend, driving investors from riskier assets; however, reports that Iranian officials are willing to negotiate prevented further economic harm and caused the crude price to decrease to USD 97 at the time of writing, alleviating inflationary pressure and leading people to get back into crypto, causing a risk-on sentiment shift.
The price move caused a significant short squeeze of over 180,000 traders; liquidated positions totaled approximately USD 534 million, of which more than 80% were short trades. The next critical resistance area is USD 75,000-USD 76,000, where another significant short liquidating wall exists; if that area breaks, new all-time highs could occur with a price near USD 77,739. During today’s first hours, the price surged 5,5% to over USD 74,700.
There has also been a marked increase in institutional investment; crypto exchange-traded products (ETPs) have seen over USD 1.1 billion in capital inflow, the highest since mid-January, and 27,652 coins have been added by 1,000-10,000 BTC whales, now accounting for 21.3% of the BTC supply.
What’s Next?
On April 13th, the Malawi-flag ship (a sanctioned Chinese-owned oil tanker) successfully transited through the Strait of Hormuz under U.S. Navy sight, marking the first successful test of the new maritime enforcement regime, although it is not yet clear under what circumstances this happened. Negotiating a ceasefire is expected to continue throughout this week, with reports of diplomatic meetings between the two sides in a third country. Any breakdown in talks could reverse the rally just as quickly.
