Bitcoin's price surged above $72,000 for the first time in 20 days following a two-week ceasefire agreement between the US and Iran. The cryptocurrency climbed 2.6% in the hour after the announcement, reaching $72,339, according to CoinMarketCap. The ceasefire, accepted by Iran's Supreme National Security Council, was announced by Trump on Truth Social, temporarily halting military actions against Iran. The geopolitical development provided a relief rally for Bitcoin, which had last traded above $72,000 on March 18. Despite the price increase, the Crypto Fear & Greed Index indicated "Extreme Fear" with a score of 11, reflecting cautious investor sentiment in the crypto market. The ceasefire comes amid ongoing tensions, with Trump previously threatening military action if Iran did not reopen the Strait of Hormuz.