Bitcoin briefly hits $78,000 for the first time in nearly three months

Bitcoin (BTC) has extended its steady climb in recent weeks. CoinDesk reported that BTC briefly touched $78,000 earlier today, a level now acting as a notable resistance point. It marks the first time Bitcoin has reached $78,000 in nearly three months, last seen in early February. CoinGecko data show BTC up 2.5% over the past 24 hours, 5.3% over the past week, 8.9% over 14 days, and 13.8% over the past month. On a year-to-date basis, Bitcoin remains down 11.7%. The newsletter argues the latest rally may be supported by shifting macro and geopolitical expectations. One factor cited is President Trump's push to quickly secure a nuclear agreement with Iran. While the U.S.-Iran conflict has unsettled investors, expectations that a broader Middle East war could wind down soon may lift confidence. A deal could improve sentiment, and a reduction in war risk could pressure oil and natural gas prices lower, potentially boosting risk appetite—a setup that could benefit Bitcoin. A second potential catalyst cited is a leadership change at the Federal Reserve, with Kevin Warsh expected to take over as chair in May. While an April 2026 rate cut is described as unlikely, the piece suggests a reduction could come as soon as next month. Any rate cut could help spark another leg higher in Bitcoin, with Warsh portrayed as more aligned with President Trump's preference for lower interest rates. If both developments materialize, the article suggests Bitcoin and the wider crypto market could move into a new bull phase. It also notes that retail risk appetite remains muted, which could limit upside momentum.