Bitcoin stabilizes above $ 71,000 after the US develops a peace plan for Iran

Bitcoin is holdingabove $ 71,000 amid falling oil prices following reports of a 15-point plan by the United States to end the war with Iran. On Wednesday, Brent fell by 4.7% to $ 99.55 per barrel, dropping below $ 100 for the first time since mid-March. This led to a 1.9% rise in Asian stocks, a weaker dollar, and positive futures dynamics in the US and Europe.

At the time of publication, the flagship of the crypto market BTC $71,065.36 Mezo Wrapped BTC 0.24% Market capitalization $41.91 million VOL. 24 hours $1.45 billion was trading at $ 71,019, adding 0.9% per day, but remained down 6.4% for the week. The previous decline was due to sharp fluctuations after the $ 75,000 peak, panic over the weekend ultimatum, and a wave of liquidations on Monday. At the same time, the daily dynamics look more stable: the cryptocurrency has been above $ 70,000 for the third day in a row.

Among other major tokens, Ether rose by 1.7% to $ 2,164, but lost 9.2% over the week. XRP added 0.2% to $ 1.42 and is down 8.5% for the week. Solana SOL $92.50 Binance-Peg SOL 0.55% Market capitalization $0.1 billion VOL. 24 hours $0.31 billion rose by 2.5% to $ 91.69, but lost 3.8% in seven days. BNB BNB $647.93 BNB 1.59% Market capitalization $88.35 billion VOL. 24 hours $74.62 million sank by 0.5% to $ 638 and showed a weekly decline of 6.8%. DOGE DOGE $0.10 Binance-Peg Dogecoin 2.66% Market capitalization $0.25 billion VOL. 24 hours $76.06 million rose by 1.7% to $ 0.094, remaining down 7.5% for the week. The only major token that remained in the black both for the day and for the week was Tron TRX $0.31 TRON 0.03% Market capitalization $29.33 billion VOL. 24 hours $33.12 million : 0.8% for the day and 4.4% for the week.

Analysts note that Brent’s drop below $ 100 reduces the inflationary pressure that has been holding back risky assets for a month. Every dollar of decline in the oil price increases the likelihood that the Fed will refrain from raising rates, which has a positive impact on liquidity. Despite bitcoin’s high correlation with the S&P 500, the market’s reaction to the war was asymmetrical: bitcoin remained generally stable, while major altcoins lost 4% to 9% over the week. The main intrigue of this week is whether the 15-point plan will lead to a real truce.