New Delhi, April 27 -- Bitcoin edged higher on Monday, continuing its gradual move toward the $80,000 mark, as investors assessed recent tensions between the US and Iran over the Strait of Hormuz.

The world's largest cryptocurrency rose as much as 1.6% to $79,488-its highest level since January 31, when it last traded around $80,000-and was hovering around $79,100. Meanwhile, Ether, the second-largest digital asset, climbed 1.7%.

Bitcoin has gained 16% so far in April, positioning it for its first double-digit monthly rise since May 2025, according to Bloomberg.

The rally in the crypto market following an Axios report that said Iran had put forward a fresh proposal to the US to reopen the Strait of Hormuz, while suggesting nuclear nego...