Bitcoin (BTC) is holding steady above the $71,000 level as global markets react to easing geopolitical tensions. The world’s largest cryptocurrency is currently trading at $71,015 after a 1.2% rise over the past 24 hours. This steady performance comes at a time when macroeconomic forces are once again taking centre stage in driving price action. A key catalyst behind the recent stability is the drop in oil prices, which slipped below $100 following signs of possible de-escalation between the United States and Iran. Lower oil prices tend to calm inflation expectations, which in turn supports risk assets such as Bitcoin.
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