The seven-week shooting war between the United States and Iran may be cooling into something resembling diplomacy. Officials from all three key parties, the US, Iran, and Pakistan, have signaled meaningful progress toward extending the ceasefire that first took hold on April 8.

For crypto markets, the implications landed immediately. Bitcoin surged past $75,000 on the news and has been hovering near $78,000 since, as traders priced in a world with slightly less geopolitical chaos.

From two weeks to indefinite

The original ceasefire was structured as a two-week pause, a diplomatic pressure valve after weeks of escalating military engagement between Washington and Tehran that began in early 2026. On April 21,…