Bitcoin($BTC ) surged nearly 5% to around $77,959 on April 17, 2026, after Seyed Abbas Araghchi announced that the Strait of Hormuz was fully open for commercial shipping.
This statement signaled easing geopolitical tensions, which had been pressuring global markets for weeks.
As a result, investors quickly shifted toward riskier assets like crypto and equities.
Oil prices dropped sharply, with U.S. crude and Brent both falling by over 13%.
Meanwhile, U.S. stock markets rallied strongly, with major indices posting solid gains.
Bitcoin followed this “risk-on” trend, benefiting from improved investor sentiment.
Reports also suggest large institutional buying, including significant purchases by BlackRock.
However, overall crypto sentiment remains weak, as the Fear & Greed Index still indicates “Extreme Fear.”
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