However, Donald Trump expressed skepticism about the proposal’s value.
Bitcoin saw its recent period of slow price movement disrupted on Sunday morning, when it briefly surged past 79,000 dollars following new developments involving Iran and the United States. The rally was short lived, with the price quickly retreating to around 78,000 dollars.
The spike came after reports suggested that Iran had submitted a fresh peace proposal to the US, fueling optimism in the market. However, President Trump indicated that he was doubtful the proposal would be acceptable, citing concerns over Iran’s past actions in a statement shared on Truth Social.
Market reaction appeared to reflect this uncertainty, as Bitcoin’s upward move stalled and reversed soon after his comments.
Earlier in the week, a similar development on Friday had already pushed Bitcoin higher, lifting it from below 77,000 dollars to above 78,000 dollars. The asset then stabilized at that level throughout Saturday before the latest volatility.
Despite these rebounds, some analysts remain cautious about Bitcoin’s short term outlook. Ali Martinez pointed to a key technical indicator that previously signaled the recovery from February lows but has now turned bearish. According to his analysis, if Bitcoin falls below the 67,500 dollar support level, it could trigger a deeper correction that sends the price under 60,000 dollars.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
