Bitcoin rose sharply on Friday, gaining 3.26% as improving geopolitical sentiment following the reopening of the Strait of Hormuz lifted risk appetite across global markets.
The world’s largest cryptocurrency climbed to $77,413.25, up $2,522.75 from the previous session, as investors reacted to Iran’s decision to reopen the critical oil transit route, easing concerns over prolonged supply disruptions and signalling potential progress in U.S.-Iran talks.
Market participants said the development reduced uncertainty in global energy markets, which in turn supported broader financial assets, including cryptocurrencies that often move in line with investor risk sentiment.
Over the past week, Bitcoin has shown notable volatility, but remains on an upward trajectory, gaining nearly $4,000 over seven days. The digital asset also recorded a strong monthly performance, rising more than $6,200, or over 8%, compared to mid-March levels.
Analysts said the rally reflects a combination of geopolitical easing and renewed inflows into digital assets, as investors seek alternatives amid shifting macroeconomic expectations.
However, on a year-on-year basis, Bitcoin remains under pressure, down about 9.5% compared to its level in April 2025, when prices were above $84,000.
The recent surge comes alongside a broader decline in oil prices, which fell sharply after Iran announced the reopening of the Strait of Hormuz during a ceasefire period, reducing fears of supply shocks.
Experts cautioned that cryptocurrency markets remain highly sensitive to global developments, particularly geopolitical tensions and monetary policy expectations.
They added that while the latest gains indicate improving sentiment, sustained upward momentum will depend on continued stability in global markets and clarity over upcoming economic and policy signals.