Iran Accepts Two-Week Ceasefire as Oil Drops, Bitcoin Surges Above $71,000

Iran’s Supreme National Security Council announced on April 8, 2026 that it has accepted a two-week ceasefire proposal brokered by Pakistan, while warning that “our hands remain upon the trigger” and attaching a 10-point peace plan demanding US military withdrawal from the region, full sanctions relief, and Iranian control over the Strait of Hormuz.

The announcement triggered an 18% drop in US crude oil futures to approximately $92.60 per barrel and pushed Bitcoin to a three-week high above $72,700 as markets priced in de-escalation, with negotiations scheduled to begin April 10 in Islamabad.

Iran Accepts Ceasefire but Warns ‘Hands Remain on the Trigger’

Iran’s Supreme National Security Council confirmed acceptance of the two-week ceasefire proposal following mediation by Pakistan’s Prime Minister Shehbaz Sharif and Army Chief Asim Munir. In its statement, the council said the ceasefire does not mean the war has ended, adding: “Our hands remain upon the trigger.” The announcement came after hours of heightened tension ahead of President Donald Trump’s self-imposed deadline for military action, which had raised fears of large-scale strikes on Iranian infrastructure.

The ceasefire leaves nearly every core dispute unresolved. Missile alerts sounded in Israel and the UAE shortly after both sides announced the pause, and Iran’s Revolutionary Guard commanders have operated independently throughout the conflict, making compliance uncertain.

Iran’s 10-Point Peace Proposal Demands Sweeping US Concessions

Iran released its full 10-point peace proposal via the semi-official Mehr News Agency. The demands represent a restructuring of US-Iran relations, not merely a ceasefire arrangement. The ten points are:

1. US commitment to no further acts of aggression against Iran

2. Continued Iranian control over the Strait of Hormuz

3. US acceptance of Iran’s right to nuclear enrichment

4. Lifting of all primary US sanctions on Iran

5. Lifting of all secondary US sanctions affecting third-party entities

6. Termination of all UN Security Council resolutions against Iran

7. Termination of all IAEA Board of Governors resolutions against Iran

8. US payment of war damages and compensation to Iran

9. Full withdrawal of US combat forces from the region

10. Cessation of hostilities on all fronts, including Lebanon

Trump described the plan as “workable” but did not clarify what he meant. The White House has not issued further details. Iran’s foreign minister said ships may pass through the Strait of Hormuz over the next two weeks under military coordination, but attached “technical limitations” that did not exist before the war.

Markets Rally on De-Escalation: Oil Drops, Bitcoin Surges

US crude oil futures dropped 18% to around $92.60 per barrel following Trump’s announcement, though prices remain far above pre-war levels near $70. S&P 500 futures rose 2.4% as investors welcomed the de-escalation signal.

Bitcoin jumped approximately 4.9% to $72,738, its highest level since March 18, and was trading near $72,000 as of Wednesday morning in Singapore. Ether rose as much as 7.4% to $2,273. Caroline Mauron, co-founder of Orbit Markets, stated that Bitcoin jumped on the temporary ceasefire and relief that further escalation had been averted for now, adding that crypto markets will probably take their cue from stocks and commodities.

US-listed spot Bitcoin exchange-traded funds drew $471.3 million in net inflows on Monday, April 7, building on $22.3 million the prior week—a sharp reversal from nearly $300 million in outflows the week before. March recorded approximately $1.3 billion in net inflows into the ETFs, a stabilization after four straight months of net outflows that began in November 2025.

Negotiations Set for April 10 in Islamabad

US and Iranian negotiators are scheduled to meet in Islamabad beginning April 10, 2026, for two weeks of talks. Iran’s demand for a US military withdrawal from the region remains deeply contentious for Gulf Arab states. Whether the Revolutionary Guard will honor the truce—and whether Iran’s conditions are acceptable to Washington—remains unclear.

According to three Iranian officials cited by The New York Times, Iran accepted the ceasefire proposal after Pakistan’s emergency mediation and last-minute interventions from other countries urging flexibility and de-escalation, amid growing concerns that damage to key infrastructure would cause economic devastation.

FAQ

What is the duration of the US-Iran ceasefire?

The ceasefire is set for two weeks, beginning April 8, 2026. Iran’s Supreme National Security Council accepted the proposal but warned that “our hands remain upon the trigger,” indicating the ceasefire does not mean the war has ended.

How did financial markets react to the ceasefire announcement?

US crude oil futures dropped 18% to approximately $92.60 per barrel. Bitcoin surged to a three-week high of $72,738, up about 4.9%, while Ether rose 7.4% to $2,273. S&P 500 futures gained 2.4%.

What are Iran’s key demands in its 10-point peace proposal?

Iran demands a US commitment to no further aggression, continued Iranian control over the Strait of Hormuz, US acceptance of Iran’s nuclear enrichment rights, full sanctions relief, termination of UN and IAEA resolutions against Iran, war reparations, full withdrawal of US combat forces from the region, and cessation of hostilities on all fronts including Lebanon.