Bitcoin surged 2% overnight to hit $80,000 for the first time since January. The surge came as global stock markets were volatile and investors began to react to the latest initiatives in the Middle East conflict.
The main driver of the rise was President Trump’s announcement of “Project Freedom,” a special mission to ensure the safe passage of neutral ships through the Strait of Hormuz. The diplomatic and military initiative provided positive sentiment to the digital asset market seeking certainty in conflict zones.
Throughout April, Bitcoin surged by 12%, marking its best monthly performance in almost a year. The success of breaking through the psychological barrier of $76,000 is seen as a very strong technical sign for long-term investors.
Data shows that Bitcoin has been unusually resilient compared to traditional assets such as stocks and gold since the outbreak of the US-Iran war. Overall, the value of the cryptocurrency has increased by 20% during the armed conflict.
Traders are now closely watching whether the $80,000 level can be held as new support. Market sentiment remains optimistic but cautious, depending on the effectiveness of “Project Freedom” in easing global supply chain disruptions in the Strait of Hormuz.
