CryptoWorld News reports that, according to CNBC, on May 1st, Bitcoin's price rose nearly 3%, reaching $78,700. This increase is related to Iran submitting a new peace proposal to the United States through Pakistan mediators, easing oil price pressures and improving global market risk sentiment. As the U.S. markets opened, Bitcoin's price further increased to $78,722. Iran's latest diplomatic signals come amid weeks-long negotiations over ceasefire terms, sanctions relief, and control of the Strait of Hormuz. Oil prices slightly declined due to this development, alleviating major macro pressures on cryptocurrencies and stocks. Adrian Fritz, Chief Market Strategist at 21Shares, stated that $80,000 is a significant resistance level, and breaking through this level could trigger some momentum.

BTC2.19%
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