By aqsagu on Skatehive
The crypto market has started this week off very strong; Bitcoin just broke through the $69000 price point today! The rally comes on the back of breaking news regarding negotiations of a ceasefire between the US and Iran which has led to tremendous confidence for investors. Current Price of Bitcoin As of today, Saturday (2/2) Bitcoin was trading at over $69000, giving it a gain of approximately 3%-4% within just twenty-four hours! This rally drove BTC to be at its highest level of price in over one week, showing renewed bullishness across the entire crypto market. MEXC Factors Causing Bitcoin to Rally What is creating the price movement of Bitcoin upwards? The primary cause is due to the ceasefire news related to Israel/Iran. According to reports, the U.S. and Iran have worked out a ceasefire framework which could result in a reopening of the strategic Strait of Hormuz. Discussions about a possible 45-day ceasefire could be a start towards long term permanent peace negotiations. Crypto