Bitcoin held steady above $71,000 as Brent crude dropped below $100 following U.S. delivery of a 15-point peace plan to Iran via Pakistan. The proposal, the most concrete diplomatic move since the conflict began February 28, includes provisions to block Iran’s nuclear weapons development.
Brent crude fell 4.7% to $99.55, easing inflation pressures that have weighed on risk assets for weeks. Asian equities rose 1.9%, while U.S. and European futures signaled further gains.
Bitcoin traded at $71,019-up 0.9% in 24 hours but down 6.4% for the week-marking its third consecutive day above $70,000. Analysts see resilience at this level as a sign of sustained bullish confidence despite recent volatility.
Other major cryptos lagged: Ether down 9.2% weekly, XRP off 8.5%, Solana down 3.8%, and BNB lower by 6.8%. Only Tron posted weekly gains, up 4.4%.
The closed Strait of Hormuz continues to restrict shipping, but lower oil prices marginally improve the odds the Fed holds rates steady, supporting liquidity conditions.
Whether Tehran accepts or rejects the ceasefire framework will likely dictate market direction in the coming days.