Bitcoin recorded its best month since April 2025 in April 2026, driven by escalating tensions between the US and Iran. The price volatility peaked on April 12 when President Trump ordered a naval blockade of the Strait of Hormuz, triggering a temporary sell-off. Prices rebounded sharply after Iran declared a ceasefire and reopened the strait.
The run was supported by sustained institutional inflows into spot Bitcoin ETFs. Markets are pricing a 99.9% probability that Bitcoin stays above $68,000 on May 3. Key risks ahead include further US-Iran developments, Federal Reserve signals, and ongoing ETF demand.