Bitcoin Rises as Oil Prices Ease Following Ceasefire

Bitcoin experienced a rebound after a two-week ceasefire led to a decrease in oil prices. According to NS3.AI, the odds of U.S. President Donald Trump being impeached before the end of his term were at 64% on April 7, as indicated by Polymarket. A similar contract on Kalshi showed a 67% probability during the same period. Prior to the ceasefire, President Trump's ultimatum to Iran on April 7 had driven Brent crude prices above $109 and WTI above $114 due to increased risks in the Strait of Hormuz. Following the truce, oil prices dropped significantly, and Bitcoin's value increased alongside declining Treasury yields and a rally in equities.