Bitcoin stabilizes above $71,000 as oil prices drop below $100 following the U.S. proposal of a 15-point plan for peace in Iran.

Brent crude decreased by 4.7% while Asian stocks increased by 1.9% as Washington presented a ceasefire proposal to Tehran through Pakistan, generating the most enduring optimism since the onset of the conflict a month ago.

What to know:

• Brent crude dropped below $100 a barrel for the first time in several weeks following reports of a U.S.-proposed 15-point peace initiative aimed at concluding the Iran conflict, alleviating inflationary pressures and boosting global risk assets.
• Bitcoin remains above $70,000, trading around $71,000 after a turbulent week, while most significant altcoins are lower on a weekly basis despite slight daily increases.
• The suggested peace initiative, which reportedly includes limitations on Iran’s nuclear activities, represents the most tangible diplomatic effort since the conflict began and is viewed as a crucial factor for markets in the upcoming days.

There is a 15-point peace proposal available, and bitcoin BTC$71,155.16 is positioned at $71,000 as the ongoing U.S.-Israel-Iran conflict appears to potentially reach an end.

Brent crude fell 4.7% to $99.55 on Wednesday, breaking below the $100 threshold that had been maintained since mid-March, after Bloomberg disclosed that the U.S. had prepared a 15-point proposal to resolve the Iran conflict and communicated it to Tehran via Pakistan. Israel’s Channel 12 also reported that Washington was aiming for a one-month ceasefire. Asian equities surged by 1.9%. The dollar weakened. U.S. and European futures indicated further increases.

Bitcoin was trading at $71,019, representing a 0.9% increase over the past 24 hours but still down 6.4% for the week. This weekly decline reflects the volatility observed from last week’s high of $75,000 through the weekend’s 48-hour ultimatum panic and Monday’s two-headline liquidation cascade.

The daily shift shows a calmer and more positive trend, with bitcoin maintaining a position above $70,000 for the third consecutive day.

"Although the leading cryptocurrency did not immediately take advantage of the upward momentum and extend its gains, simply remaining at these high levels now suggests confidence among the bulls," FxPro chief market analyst Alex Kuptsikevich stated in an email to CoinDesk.

Ether (ETH) increased by 1.7% to $2,164 but is down 9.2% for the week, making it the poorest performer among major cryptocurrencies over seven days. XRP (XRP) rose 0.2% to $1.42, down 8.5% weekly. Solana increased by 2.5% to $91.69 but has experienced a 3.8% loss over the week. BNB dropped 0.5% to $638, down 6.8%. DOGE$0.09624 increased by 1.7% to $0.094 but remains down 7.5% for the week. Tron (TRX) was the only major asset showing gains in both timeframes, rising 0.8% daily and 4.4% weekly.

The 15-point proposal is the most substantial diplomatic advancement since the conflict started on February 28. Trump has been advocating for discussions publicly, but the framework, participants, and conditions have been ambiguous until now. The plan reportedly includes a ban on Iran acquiring nuclear weapons or enriching radioactive materials, although complete details remain undisclosed.

The Strait of Hormuz remains effectively closed, with only a limited number of vessels transiting.

Brent trading below $100 alleviates some inflationary pressures that have been weighing on risk assets for a month.

Every dollar reduction in oil prices slightly enhances the chance that the Fed will maintain rates rather than raise them, which helps prevent the liquidity situation from deteriorating further. Bitcoin’s 90-day correlation with the S&P is still high, but its sensitivity has been uneven throughout the conflict.

Bitcoin has remained relatively stable since the start of the conflict, but every major altcoin has declined between 4% and 9% for the week. The market has spent four weeks processing news, liquidation cascades, and oil price shocks, resulting in a range that has neither broken upward nor collapsed downward.

The only pressing question this week is whether the 15-point proposal will lead to an actual ceasefire or become another headline that Tehran denies within hours.