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Bitcoin (BTC-USD) opened at $81,423.91 on Thursday, the highest opening price since January 31. The value of bitcoin fell back to $80,936.01 by 7:09 a.m. ET.
Ethereum (ETH-USD) opened at $2,350.72 on Thursday, down slightly from yesterday’s open price. Ethereum’s price edged lower to $2,329.20 by 7:09 a.m. ET.
Ethereum prices have been holding steady all week, while bitcoin prices have been rising. Even though bitcoin's price pulled back somewhat this morning, it remains near $81,000.
Tensions in the Middle East have been so touch-and-go over the last several weeks that traders have been forced to react to day-to-day, seemingly hour-by-hour developments. If the price of bitcoin can continue to hold above $80,000, it’s another signal of the cryptocurrency’s resilience in the face of geopolitical tensions.
If the latest peace proposal from the U.S. succeeds in moving the war towards a close, investors will be even more willing to embrace risk, which could allow bitcoin and ethereum prices to move even higher#GateSquareMayTradingShare