JAKARTA - Bitcoin prices have surged 6 percent to near $75,000 on Monday, April 13, following a massive short squeeze triggered by the US blockade of the Strait of Hormuz. Then, Iran responded with an unexpected policy, requiring 'Tol Bitcoin' payments for all tankers crossing the line.
This geopolitical dynamic not only triggered the liquidation of short positions worth hundreds of millions of dollars, but also confirmed the function of crypto as a strategic tool in the modern economy.
Vice President of INDODAX, Antony Kusuma, stated that the surge in the price of Bitcoin and other crypto assets reflects the increasingly strong position of crypto assets in responding to global pressures.
"The rise in Bitcoin prices amid a combination of geopolitical factors, inflation, and market dynamics shows that crypto is increasingly seen as a hedge alternative. Phenomena such as the use of Bitcoin in cross-border economic activities are a signal that crypto adoption continues to grow, not only at the retail level but also in a broader global context," said Antony.
Iran's move to impose a tariff equivalent to 1 US dollar per barrel in the form of Bitcoin created an instant massive organic demand. This blockchain-based payment system is used by Iran to ensure transactions continue and a strategy to avoid international sanctions by utilizing financial systems outside the reach of the United States (US).
On the other hand, the United States inflation (CPI) which rose to 3.3 percent on Friday, April 10 showed a significant increase compared to the past 1-2 years trend which averaged in the range of 2.4-3 percent. The price increase due to the Middle East conflict increases expectations that inflation will remain high, thus encouraging investors to diversify into alternative assets such as Bitcoin, as well as strengthening the narrative as a safe haven amid pressure on the value of conventional currencies.
At the current price range of 74,000 - 75,000 US dollars, Bitcoin's movement shows a strengthening supported by inflows (inflows) to Bitcoin spot ETFs which reached around 1.94 billion US dollars throughout March to April. This liquidity support strengthens the price structure and maintains a positive momentum in the short term.
This positive sentiment also boosted other crypto assets. Based on CoinMarketCap data, Ethereum (ETH) rose 8 percent to the level of 2,380 US dollars, followed by Solana (SOL) which strengthened 5.2 percent to 86.60 US dollars, and BNB which rose 3.2 percent to 615.50 US dollars.
According to Antony, this dynamic shows that the crypto industry is beginning to enter a new phase in its adoption.
"If previously crypto was more seen as a speculative asset, today its role is beginning to expand into the realm of geopolitics and international trade. This is an important development, because it shows that blockchain technology has an increasingly tangible relevance in the global economic system," he added.
However, Antony reminded that volatility remains the main character of the crypto market. Other factors such as liquidity needs ahead of the Producer Price Index and tax sales in the United States, as well as changes in monetary policy have the potential to affect short-term price movements. Therefore, investors are urged to continue to prioritize risk management and not make decisions based solely on momentary sentiments.
Historically, April has been a positive month for Bitcoin, with an average increase of 69 percent since 2013 closed in the green zone. However, this year the market movement is more influenced by geopolitical and macroeconomic factors, as well as the impact of the price correction last year. Until the second quarter of 2026, Bitcoin has recorded an increase of 8.64 percent.
INDODAX sees this development reflecting the shift in the role of crypto from merely an investment instrument to being part of the global economic dynamics. In this case, INDODAX is committed to continuing to provide a safe and transparent platform, as well as supporting Indonesian investors in understanding and responding to opportunities in the digital asset industry more wisely, in order to encourage the creation of long-term benefits for members.
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