Bitcoin Climbs to $79,488, a 12-Week High, on Reports of U.S.-Iran Deal Progress

Bitcoin hit its highest level since January 31 on Monday after reports emerged that Iran had submitted a new proposal to the U.S. through Pakistani mediators to reopen the Strait of Hormuz.

Bitcoin hit $79,488 on Monday morning, its highest level since January 31, after Axios reported that Iran had submitted a new proposal to the United States through Pakistani mediators for reopening the Strait of Hormuz and moving toward an end to the conflict.

Bitcoin was up as much as 1.6% in early Asian trading before pulling back to around $77,700 by mid-session. Ether gained as much as 1.7% in the same window. Asian equity markets also advanced in tandem.

This story is an excerpt from the Unchained Daily newsletter.

President Trump was scheduled to meet with senior national security and foreign policy advisers Monday to discuss next steps.

Bitcoin has risen roughly 16% in April, recovering from a cycle low near $60,000 in early February, and nearly 20% since the U.S.–Iran conflict began at the end of February. The $80,000 level has emerged as a key resistance zone, with analysts pointing to it as a breakeven price for recent buyers. A sustained close above it would be the first since January 31 and could open the path toward the mid-$80,000s.

April net inflows into U.S. spot Bitcoin ETFs reached approximately $2.5 billion, the strongest monthly figure since October 2025, when BTC hit its all-time high above $126,000.