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Bitcoin touched a 12-week high before retreating slightly as traders digested conflicting signs about the progress of US-Iran talks to end the conflict in the Middle East.<\/p>\n
The original cryptocurrency hit $79 488 early Monday in Europe, its highest level since Jan. 31, before giving up gains to trade around $77 000. A report from Axios that Iran had proposed a new deal to reopen the Strait of Hormuz initially boosted investor sentiment, although a rise in oil prices put a damper on risk appetite.<\/p>\n
Since the war between the US and Iran broke out at the end of February, traffic through the strait, a critical trade waterway, has at times come nearly to a halt. News of start-stop negotiations about ending the conflict has driven swings in oil and risk assets.<\/p>\n
Bitcoin had been grinding back toward the $80 000 level in recent sessions as traders covered short positions and institutional demand improved. The token is up 13% so far in April, putting it on pace for its first monthly double-digit gain since May 2025.<\/p>\n<\/p>\n
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\u201cThe risks are real. US-Iran peace deal odds have collapsed, a macro overhang that could reprice risk assets broadly,\u201d said Rachael Lucas, an analyst at BTC Markets. \u201c$80 000 is where many recent buyers are approaching breakeven, which is typically where selling pressure emerges as they rotate out of their positions.\u201d<\/p>\n
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Jeff Ko, chief analyst at CoinEx, said technical resistance above $79 000 made it a \u201cnatural spot for profit-taking.\u201d Investors are now positioning for interest rate decisions from the Federal Reserve and European Central Bank this week, he added.<\/p>\n
US-listed spot Bitcoin ETFs have seen a notable recovery in demand this month. Net inflows in April have reached roughly $2.5 billion, on pace to double March\u2019s total. Institutional buyers returned to the funds in March after four consecutive months of net outflows.<\/p>\n
Meanwhile, Strategy Inc. bought $255 million of Bitcoin in the previous seven days, slowing the pace of its buying of the digital currency after spending $3.5 billion over the prior two weeks.<\/p>\n
Michael Saylor\u2019s digital asset treasury company acquired 3 273 Bitcoin in the period ended 27 April, according to a US Securities and Exchange Commission filing on Monday. Saylor, the co-founder and executive chairman of the former MicroStrategy, funded the latest round of purchases through the sale of common stock.<\/p>\n
The largest corporate Bitcoin holder has been one of the main driving forces behind the latest recovery in the crypto market this month alongside an increase in demand for exchange-traded funds underpinned by the digital currency. Strategy has bought about $4.1 billion in Bitcoin in April, the most in a year, according to company data compiled by Bloomberg.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Bitcoin #touches #12week #high #traders #weigh #progress #Iran<\/p>\n","protected":false},"excerpt":{"rendered":"
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