Bitcoin has climbed to $79,488, marking a 12-week high. This surge follows Iran's new proposal in nuclear talks, which markets interpret as a stabilizing geopolitical factor.
Trading sentiment is bullish, with reduced bets on Bitcoin dropping to $60,000 in April. Market participants appear confident in Bitcoin holding its current levels, awaiting concrete developments from the negotiations before committing significant capital.
Geopolitical stability generally supports risk assets like Bitcoin, potentially reducing extreme volatility. Traders are closely watching updates from the nuclear negotiations, as well as signals from Jerome Powell's monetary policy and potential geopolitical decisions.