Iran's Supreme National Security Council accepted a two-week ceasefire in its conflict with the US, though it emphasized the war isn't over.
Bitcoin surged past $72,000 for the first time in 20 days following the agreement.
President Trump announced the ceasefire on Truth Social, saying he would suspend U.S. bombing of Iran for two weeks unless the Strait of Hormuz reopened.
The move comes amid heightened tensions, with Trump also warning of catastrophic consequences if Iran didn’t comply.
Bitcoin climbed 2.6% to $72,339 shortly after the announcement, according to CoinMarketCap.
The Crypto Fear & Greed Index showed an 'Extreme Fear' reading of 11, indicating caution among investors despite the rally.
This marks the first time Bitcoin has surpassed $72,000 since March 18.
Trump previously stated the U.S. might conclude its military campaign in Iran within weeks, citing progress toward eliminating Iran’s nuclear program.