Bitcoin (BTC) has been slowly making an upward push over the last few weeks. The asset briefly hit the $78,000 price level earlier today, but is facing substantial resistance at that price level. BTC hit the $78,000 mark after nearly three months. The asset last traded at this price point in early February of this year. According to CoinGecko’s BTC data, Bitcoin’s price has surged 2.5% in the last 24 hours, 5.3% in the last week, 8.9% in the 14-day charts, and 13.8% over the previous month. However, the asset is still down by 11.7% in the yearly charts. Let’s discuss if Bitcoin (BTC) is in the early stages of another bull run.
Is Bitcoin Entering Another Bull Run?
Bitcoin’s (BTC) latest upswing is likely due to President Trump wanting to make a nuclear deal with Iran at the earliest. Although the US-Iran conflict has led to substantial investor worry, we may be nearing an end to the Middle East war. A deal between the US and Iran could significantly boost investor sentiment. Moreover, crude oil and natural gas prices will see a dip if the war comes to a close. Such a move could lead to increased risky investments. Bitcoin (BTC) could greatly benefit from such a development.
Secondly, the Federal Reserve will see the appointment of Kevin Warsh as its new head in May. Although the chances of an interest rate cut is low in April 2026, we could see a dip in rates next month. A rate cut could lead to another bullish phase for Bitcoin (BTC). Warsh is likely be more inclined towards President Trump’s desires of reducing interest rates.
Also Read: BlackRock Buys 3352 Bitcoin, Now Has $61 Billion Worth
If both of the above mentioned developments come to light, Bitcoin (BTC) and the larger crypto market could enter another bull run. However, risk appetite is still low among retail investors, which could pose challenges for a bull market.