The price of Bitcoin (BTC) remains steady at $75,000 U.S. as the Iran ceasefire holds and investors wait for a permanent end to the Middle East conflict.
Bitcoin was trading at $75,800 U.S. on April 17, the same level it has been at for most of the past week as markets await further progress on the war between Iran, Israel and the U.S.
A few attempts were made to rise above $76,000 U.S. in recent days. But Bitcoin again failed to break through resistance it encounters at that level.
Analysts say breaking through resistance at $76,000 U.S. will be key for Bitcoin to stage a strong rally and get back above the key level of $100,000 U.S.
Still, Bitcoin has risen 15% since the U.S. and Iran agreed to a two-week ceasefire, climbing up from a low of $66,000 U.S. when war was raging between the two countries.
Bitcoin’s gain has coincided with a rise in stocks, with U.S. equity markets at record highs in recent days as investors look past the Middle East conflict.
Other cryptocurrencies continue to trade in mixed patterns. Ethereum (ETH) has also risen and is currently trading at $2,360 U.S.
However, smaller cryptocurrencies such as XRP (XRP) and meme coins such as Dogecoin (DOGE) are in the red on April 17 and have been up-and-down in recent trading sessions.
Bitcoin remains well-below its all-time high of $126,000 U.S. reached last October.
