Bitcoin (BTC) Price: BTC Jumps 3% in Minutes After Netanyahu Ceasefire Announcement

TLDR

Bitcoin rose above $72,000 after Israeli PM Netanyahu announced Lebanon ceasefire negotiations BTC is up 9% over the past month while the iShares Tech-Software ETF is down 12% February PCE inflation came in at 2.8% YoY, in line with expectations US Q4 GDP was revised down to 0.5% annualized, raising recession concerns March CPI data — the first since the US-Iran war began — is due tomorrow, with forecasts pointing higher

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Bitcoin traded above $72,000 on Thursday after a positive shift in Middle East geopolitics. Israeli Prime Minister Benjamin Netanyahu told his cabinet to begin ceasefire negotiations with Lebanon over disarming Hezbollah. The news reversed what had been shaping up as a down day for crypto markets.

Bitcoin (BTC) Price

BTC jumped roughly 3% on the news, reaching $72,300. US stocks also recovered, with the Nasdaq moving up 0.65%. WTI crude oil pulled back from nearly $103 per barrel to around $98.60 after the announcement.

Bitcoin outperformed other major cryptocurrencies on the day. Ethereum (ETH), Solana (SOL), and XRP each gained less than 1%, while BTC held its lead.

Earlier in the day, February PCE inflation data came in line with expectations. The Bureau of Economic Analysis reported PCE rose 2.8% year-over-year, with core PCE cooling slightly to 3%, down from 3.1% in January.

BREAKING: February PCE inflation, the Fed's preferred inflation measure, was unchanged at 2.8%, in-line expectations of 2.8%.

Core PCE inflation falls to 3.0%, in-line with expectations of 3.0%.

This marks the final pre-Iran War PCE inflation datapoint.

— The Kobeissi Letter (@KobeissiLetter) April 9, 2026

Bitcoin had already been recovering before the ceasefire news, rising from an intraday low of $70,500 to around $71,200 following the inflation data release.

It is worth noting that the February PCE data covers the period before the US-Iran war began in late February. Economists and traders are awaiting more current data to understand how the conflict has affected prices.

Bitcoin Pulls Away From Software Stocks

Bitcoin and software stocks have been moving in opposite directions over the past month. The iShares Expanded Tech-Software ETF (IGV) is down 12% over 30 days, while BTC is up 9% in the same period.

The 20-day correlation coefficient between Bitcoin and IGV has dropped to 0.34, reflecting a clear split in how the two assets are performing.

Fed Stays on Hold, Recession Risk Grows

The US fourth quarter GDP was revised down to a 0.5% annualized rate, pointing to slowing economic growth. Despite this, traders became less risk-averse, partly because weaker growth raises the odds of government liquidity injections.

FOMC minutes released Wednesday showed Fed officials remain open to rate cuts this year, though a majority said they would consider rate hikes if inflation stays well above the 2% target. CME FedWatch data shows a 98.4% probability that the Fed keeps rates unchanged at its April 29 meeting.

Source: CME

A weaker US dollar has supported Bitcoin, as reduced confidence in the Fed’s inflation management tends to benefit scarce assets.

March CPI data is scheduled for release Friday. Wall Street forecasts point to 3.3% YoY, up from 2.4% in February, which would mark the first inflation reading since the US-Iran war began.

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