Bitcoin at its highest since February – latest comments on Iran

Bitcoin broke through the $78,000 barrier, reaching its highest level since February, coinciding with groundbreaking diplomatic developments in the Middle East. Trump announced on Friday that Iran had agreed to suspend its nuclear program indefinitely and would not receive the frozen U.S. funds — according to him, the deal is “almost done,” and further talks are scheduled to take place as early as this weekend. The markets reacted immediately with gains, as any positive news from the diplomatic front has historically driven up the prices of risky assets, including BTC. At the same time, Trump issued a stern warning to Israel — “Enough is enough! Israel is FORBIDDEN from bombing Lebanon” — suggesting that the U.S. is actively exerting pressure on multiple fronts to accelerate normalization in the region. Bitcoin’s rise above $78,000 also coincides with capital inflows into BTC ETFs, as institutional investors increasingly view crypto as a hedge against geopolitical uncertainty. Below are the latest inflows/outflows into the major funds.

Source: Coinglass

The 14-day RSI has broken above the 70-point mark, which may indicate that BTC is entering a technically overbought zone. However, it is worth remembering that this instrument is highly volatile and has so far underperformed traditional markets, so a rapid rebound, relative to other markets, may be possible.