Cryptocurrencies are ending the week on a high note as Bitcoin (CRYPTO: $BTC) rises 4% to trade at $78,000 U.S., its highest level in months.

Other cryptocurrencies are also marching higher on April 17, with Ethereum (CRYPTO: $ETH) also up 4% and trading above the key resistance level of $2,400 U.S.

Crypto prices are surging alongside equities on news that Iran has reopened the Strait of Hormuz waterway where 20% of the world’s crude oil is shipped.

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The Strait of Hormuz had been closed since the U.S. and Israel attacked Iran on Feb. 28, sending oil prices soaring and hurting risk assets such as crypto.

In recent weeks, Bitcoin has…