BREAKING: Bitcoin (BTC) surged to $78,000 in early trading today—its highest level since February—before encountering stiff resistance at this psychologically critical level. The 2.5% 24-hour gain marks a potential inflection point, with BTC showing consistent upward momentum (5.3% weekly, 8.9% biweekly) despite remaining 11.7% below its all-time high. Analysts are now debating whether this breakout signals the start of a new bullish phase for the flagship cryptocurrency.

Is Bitcoin Entering Another Bull Run?

Bitcoin’s (BTC) latest upswing is likely due to President Trump wanting to make a nuclear deal with Iran at the earliest. Although the US-Iran conflict has led to substantial investor worry, we may be nearing an end to the Middle East war. A deal between the US and Iran could significantly boost investor sentiment. Moreover, crude oil and natural gas prices will see a dip if the war comes to a close. Such a move could lead to increased risky investments. Bitcoin (BTC) could greatly benefit from such a development.

Secondly, the Federal Reserve will see the appointment of Kevin Warsh as its new head in May. Although the chances of an interest rate cut is low in April 2026, we could see a dip in rates next month. A rate cut could lead to another bullish phase for Bitcoin (BTC). Warsh is likely be more inclined towards President Trump’s desires of reducing interest rates.

If both of the above mentioned developments come to light, Bitcoin (BTC) and the larger crypto market could enter another bull run. However, risk appetite is still low among retail investors, which could pose challenges for a bull market.