Bitcoin tops $79,000 as Trump extends Iran ceasefire, stocks up

Bitcoin climbed above $79,000 Wednesday and U.S. stocks advanced after President Donald Trump extended a U.S. ceasefire with Iran. The Nasdaq Composite was up more than 1% during the session.

Trump extended the two-week pause on Tuesday, calling Iran’s government “seriously fractured” and in need of time to present a unified proposal to end the conflict. The blockade on Iranian ports remains in place while Washington pushes for a diplomatic outcome.

He indicated renewed negotiations could begin “as soon as Friday,” with mediators in Pakistan working to organize talks within 36 to 72 hours. Iran’s foreign ministry has not confirmed participation and has accused Washington of bad faith in earlier rounds.

Bitcoin briefly topped $79,000, the highest level since February 3, after dropping below $74,000 on April 19 when Tehran rejected a second round of talks. The token has risen more than 7% since that decline.

Broader demand for hard assets has remained firm. Global central banks now hold about 38,666 metric tons of gold, roughly 17% of all gold ever mined, following years of large-scale purchases. In March, China’s silver imports rose 78% from February to a record 836 metric tons, supported by retail buying and higher orders from solar manufacturers.

Leverage in U.S. markets eased. Margin debt fell by $32 billion in March to $1.22 trillion, the lowest level since November 2025, though balances are still up 39% from a year earlier, a pace last seen during the 2021 retail trading surge.

Security risks tied to the standoff persist. Iran’s Islamic Revolutionary Guard Corps issued a warning that undersea internet cables and cloud infrastructure in the Persian Gulf could be targeted, a threat that could disrupt communications if tensions resume.

Traders are watching for Tehran’s response to Washington’s timeline and any confirmation of talks by Friday, while monitoring whether Bitcoin challenges the $80,000 level.