- Bitcoin, Ethereum, and XRP gains retreat amid hopes for peace in the Middle East

Reports indicate that the Iranian regime has submitted a new proposal to the United States through Pakistani intermediaries, aiming to open the Strait of Hormuz and end the war. According to a report published by Axios, the proposal seeks to postpone discussions about Iran's nuclear program to a later stage, paving the way for a quick peace agreement.

U.S. President Donald Trump canceled the peace talks scheduled for last Sunday after Iran remained silent. Trump said there was no point in sending American envoys Steve Wittekoff and Jared Kushner to Pakistan, and that negotiations could be conducted via phone when Iran is ready.

Trump stated: "We can do it just as efficiently over the phone. The Iranians can contact us if they want. We’re not going to travel just to sit there."

The new Iranian proposal raises hopes for a resolution to the conflict, supporting positive market sentiment. However, despite the White House receiving the proposal, it remains unclear whether the United States will consider it. President Trump remains optimistic about the conflict’s imminent resolution.

Meanwhile, market sentiment continues to improve, with the cryptocurrency fear and greed index stabilizing at 47 points in the fear zone on Monday, up from 33 points the previous day. The index had been in extreme fear territory last month, confirming a gradual and steady increase in investors’ risk appetite.

Cryptocurrency Fear and Greed Index | Source: Alternative

- Today’s Chart: Bitcoin supply drops below $80,000
Bitcoin is currently trading at $77,619, maintaining a short-term bullish trend, as the price stays above the 50-day and 100-day exponential moving averages (EMA), which are at $73,362 and $75,635 respectively. Momentum indicators support this positive outlook, with the Relative Strength Index (RSI) hovering around 61 on the daily chart, while the Moving Average Convergence Divergence (MACD) remains in positive territory, indicating buyers still dominate the market despite waning upward momentum.

Daily BTC/USDT Chart

On the bullish side, the 200-day exponential moving average at $82,155 represents the next key resistance level, and a break above it would open the door for a stronger continuation of the overall bullish trend. On the downside, initial support is observed at the ascending trendline around $76,897, followed by the 100-day exponential moving average at $75,635, and then the 50-day exponential moving average at $73,362. Further decline could test the supertrend support zone near $72,031, where buying interest is expected to emerge on dips if the bullish trend persists.
$BTC