On April 23, Bitcoin reclaimed the $78,000 level. On April 22, U.S. President Donald Trump, during an interview with Fox News reporter Martha MacCallum, confirmed that the U.S.-Iran ceasefire talks have no timeline and denied a report from U.S. outlet Axios that same day citing a “3- to 5-day window.”
Trump-Iran Position Statement
According to a live broadcast interview on Fox News on April 22, Trump said there is “no timetable” for talks with Iran and that he is “not in a hurry” to reach an outcome. In his statement, he said the midterm elections are not a factor pushing the negotiations, and that the government’s goal is “to get a good deal for the American people.”
White House press secretary Karoline Leavitt confirmed in a routine briefing on Wednesday that President Trump has not set a deadline for extending the ceasefire, and that he is asking Iran’s leadership for a consistent response regarding the U.S.’s final-war proposal.
During the interview, Trump directly quoted: “They’re more afraid of being blocked than getting bombed. They’ve been getting bombed for many years, but the one thing they hate the most is being blocked. Those oil wells, once they stop, sometimes it’s permanent.” Trump also commented on Iranian Foreign Minister Abbas Araghchi, calling him a “smart person,” and said that when talks resume, he is expected to remain in office.
On the same day, Trump also said, regarding Iran’s seizure of ships in the Strait of Hormuz: “Those aren’t American ships,” and that he will continue to monitor the situation.
On-Chain Data on Bitcoin Resistance Levels
According to LSEG data, between 19:54 and 19:56 Greenwich Mean Time on April 21, during the post-close trading session in the Brent crude oil market, there were 4,260 lots of concentrated sell orders. Based on the futures prices at that time, the total size was approximately $430 million. At 20:10 that day, Trump announced an indefinite extension of the ceasefire arrangements with Iran.
When the sell orders appeared, the Brent crude spot price dipped slightly from $100.91 per barrel to $100.66 per barrel. Within one minute after Trump announced the extension, it fell to $96.83 per barrel. On April 23 at 12:00 Greenwich Mean Time, it was $99.2 per barrel.
According to publicly available market records, in April there were four similar transaction events already recorded:
March 23: Trump announced a delay of the strike on Iran’s power infrastructure by 15 minutes before the action, and about $500 million in crude oil short positions appeared
April 7: A few hours before a two-week ceasefire was announced, $950 million in directional bets appeared
April 17: Iran’s foreign minister posted that the Strait of Hormuz would be opened to commercial shipping about 20 minutes later, and $760 million in short positions appeared
April 21: 15 minutes before Trump extended the ceasefire, $430 million in short positions appeared
The total cumulative size of the above transactions in April was approximately $2.1 billion. Adding the $500 million on March 23 brings the cumulative total to over $2.6 billion. According to a report on April 15 by the media, relevant U.S. institutions have launched investigations into multiple crude oil futures trades, including those on March 23 and April 7.
On-Chain Resistance Level Data for Bitcoin
According to a report by Coindesk on April 23, Bitcoin (BTC) rose to above $78,000 that day, having traded sideways for about 75 days since it hit a low of around $60,000 on February 6.
On-chain analytics firm Checkonchain tracking data shows that there are currently two key on-chain price levels:
True Market Mean: $78,200. After excluding lost and long-dormant coins, this is the average purchase cost of the actually circulating Bitcoin.
Short-Term Holder Realized Price: $79,200. The average buy cost of investors whose holding period is less than 155 days. With the current spot price of Bitcoin below this level, short-term holders are in an unrealized loss state.
According to Checkonchain’s historical data, in mid-January Bitcoin tested the short-term holder realized price near $98,000, failed to break through, and then continued to range.
Frequently Asked Questions
When and through what channel was Trump’s statement about the Iran negotiations released?
Trump made the statement during a live interview on Wednesday, April 22, with Fox News reporter Martha MacCallum. White House press secretary Leavitt (Karoline Leavitt) further confirmed the talks having no deadline in a routine briefing the same day.
What is the data source for the abnormal crude oil trades on April 21?
Trade volume data comes from financial data provider LSEG. The specific timestamps were from 19:54 to 19:56 Greenwich Mean Time, during the trading session after the official close of the Brent crude oil market, with 4,260 lots of sell orders recorded.
What is the data source for the on-chain average at $78,200 for Bitcoin?
$78,200 is the “True Market Mean” tracked by on-chain analytics firm Checkonchain. Its calculation excludes lost and long-dormant coins, based on a citation in Coindesk’s April 23 report.
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