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Bitcoin takes another aim at $80,000 as stocks rise, oil drops on Iran optimism
The crypto asset rose nearly 3% over the past 24 hours.
May 1, 2026, 3:01 p.m. 2 min read
What to know:
- Bitcoin rose nearly 3% over the past 24 hours to about $78,700, extending gains as U.S. markets opened and risk appetite improved.
- Traders are watching whether bitcoin can decisively break above the $80,000 level, which many view as a key threshold that could attract new buyers.
- Oil prices edged lower after Iran reportedly sent a new proposal to restart talks with the United States, though supply concerns persist amid continued tensions in the Strait of Hormuz.
The latest move comes alongside gains in equities, which opened higher in the U.S.
At the same time, oil prices slipped after reports that Iran sent a fresh proposal aimed at restarting negotiations with the United States. The news raised hopes that tensions could ease, at least in the near term.
Brent crude futures for July were down 26 cents, or 0.23%, at $107.74 a barrel. Supply concerns have not gone away. Tehran continues to block the Strait of Hormuz, a key shipping route, while the U.S. Navy is stopping exports of Iranian crude.
This mix of easing headlines and ongoing constraints helps explain the muted reaction in oil. Traders appear cautious, weighing the chance of a deal against the reality on the ground.
