The cryptocurrency market is showing signs of a recovery after President Trump announced a suspension of military strikes on Iran. President Trump said that the two countries may be on the brink of a deal after having positive talks. Bitcoin (BTC) has reclaimed the $70,000 price level once again, rallying 3% in the last 24 hours, according to CoinGecko cryptocurrency data. Let’s discuss if the cryptocurrency market will enter a bull run after the US-Iran war comes to a close.
Will The Cryptocurrency Market Enter A Bull Run Amid War De-Escalation?
The cryptocurrency market took a turn for the worse in October of last year after increased macroeconomic uncertainties and geopolitical tensions. The situation worsened after the US-Iran conflict saw substantial escalation. If we see a cool off between the two countries, we may see a spike in investor confidence. Risk appetite may increase, and cryptocurrency investments may to up.
While the possibility of a de-escalation is high, Tehran has denied having any talks with their US counterparts. Things are still quite unclear, and military retaliation may see further escalation. If the war continues, the cryptocurrency sector may see another correction. Volatility is still high and market participants are still uncertain about risky assets and may stay away from the cryptocurrency sector until the war officially comes to a close.
Also Read: Missed Out On Crypto During Covid-19? This May Be Your Chance
CoinCodex analysts paint quite a bullish picture for Bitcoin (BTC) over the coming days, anticipating the asset to hit $80,650 on April 1, 2026. Hitting $80,650 from current price levels will entail a rally of about 14.68%. BTC reclaiming the $80,000 mark could trigger a bullish phase for the larger cryptocurrency market.
However, the platform does not expect the original cryptocurrency to hold the $80,000 price level, predicting a correction to $72,000 by mid May 2026. Such a move could lead to a market-wide correction.