Key Highlights
- BTC climbed above $78,000, marking the highest level witnessed in 10 weeks following Iran’s announcement about the Strait of Hormuz
- Iran’s top diplomat verified that commercial shipping lanes remain accessible throughout the ongoing ceasefire
- Trump indicated the bilateral agreement with Iran has reached advanced stages with major components already settled
- Crude oil contracts plummeted 10% to approximately $85 per barrel following the diplomatic breakthrough
- American spot Bitcoin exchange-traded funds attracted $664 million in net capital on April 17, continuing a four-session positive trend
Bitcoin climbed beyond $78,000 on Friday, April 17, marking the digital asset’s strongest performance since the beginning of February. The upward movement followed a statement from Iran’s Foreign Minister Seyed Abbas Araghchi, who declared on X that the Strait of Hormuz remains “completely open” to commercial shipping traffic during the current ceasefire period.
In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.
— Seyed Abbas Araghchi (@araghchi) April 17, 2026
President Donald Trump validated the development through Truth Social, stating that negotiations to conclude hostilities between the US, Israel, and Iran have progressed significantly. He indicated that major elements have been settled, with outstanding matters anticipated to be finalized during the coming weekend.
The leading cryptocurrency achieved an intraday peak of $78,343, representing approximately 4.1% growth within 24 hours. Throughout the seven-day period, BTC recovered roughly 5%, based on metrics from CoinMarketCap and TradingView.
Alternative digital currencies followed the upward trajectory. Ethereum advanced 3.3% while XRP increased 2.4%, contributing to a widespread rally across international markets.
Brent crude oil contracts declined approximately 10% to reach $85 per barrel. The S&P 500 index similarly advanced, accumulating $7 trillion in value during the preceding three weeks, according to data from The Kobeissi Letter.
Exchange-Traded Fund Capital Flows and Corporate Accumulation
Wu Blockchain shared on X that American spot Bitcoin ETFs captured $664 million in net capital on April 17, representing the fourth consecutive session of positive flows. Spot Ethereum ETFs accumulated $127 million, extending their inflow sequence to seven sessions.
On April 17 (ET), U.S. spot Bitcoin ETFs recorded total net inflows of $664 million, extending the inflow streak to four days. Spot Ethereum ETFs posted total net inflows of $127 million, marking seven consecutive days of inflows. pic.twitter.com/bJlzcFT23L
— Wu Blockchain (@WuBlockchain) April 18, 2026
Bitcoin Archive disclosed on X that BlackRock’s iShares Bitcoin Trust has maintained continuous acquisition activity for eight consecutive trading sessions, adding $284 million worth of Bitcoin on April 17 alone. Cumulative purchases from BlackRock have reached $1.34 billion across the eight-day period.
The world’s largest asset manager BlackRock has been buying Bitcoin for 8 straight days.$IBIT bought $284 million worth of Bitcoin yesterday.
Total purchases now stand at $1.34 billion in just 8 days.
Relentless accumulation. pic.twitter.com/LSSpdwQIWL
— Bitcoin Archive (@BitcoinArchive) April 18, 2026
Strategy Inc. accumulated an additional $2.6 billion in Bitcoin during the past fortnight. The company’s stock price surged as much as 16% on Friday, representing its largest single-session increase since February 6.
Coinbase Global shares advanced as much as 8% while Galaxy Digital climbed over 10% during the same trading period.
Corporate Sector Developments
Goldman Sachs submitted regulatory filings for a Bitcoin ETF during the week, marking the firm’s inaugural direct entry into cryptocurrency investment products. Charles Schwab revealed intentions to introduce spot crypto trading capabilities by 2026, proposing that investors might consider allocating up to 8.8% of their portfolios to Bitcoin.
Morgan Stanley introduced its proprietary Bitcoin-tracking ETF the previous week, establishing itself as the first major banking institution to offer such a product.
Matt Mena, senior crypto research strategist at 21Shares, characterized the Strait of Hormuz reopening as “the risk-on signal the global markets have been waiting for.”
Bohan Jiang, senior derivatives trader at FalconX, credited Strategy’s continuous purchasing activity with providing market support throughout recent weeks.
Outstanding Concerns
The current ceasefire arrangement is scheduled to conclude on April 22. American officials have indicated their naval presence will continue until a comprehensive agreement receives final approval. Iranian authorities have warned of potentially closing the Strait again should the blockade persist.
Axios reported that American officials are evaluating the release of up to $20 billion in frozen Iranian assets in return for Iran relinquishing its enriched uranium reserves.
Derivatives market indicators suggest trader caution remains elevated. Funding rates for perpetual futures contracts turned negative on Friday. Put options positioned at $60,000 and $50,000 strike prices carry substantial premiums, reflecting ongoing hedging strategies.
Polymarket participants assessed the probability of Bitcoin reaching $80,000 during April at 65% as of Friday, April 17.
