Bitcoin Approaches $80K After Three-Month Rally, But Faces Profit-Taking Pressure

Gate News message, April 27 — Bitcoin surged to near three-month highs amid easing Middle East geopolitical tensions, trading at $77,629 as of 3:40 p.m. The asset touched an intraday peak of $79,488 but faced selling pressure as it approached the key $80,000 resistance level.

The recent rally was driven by expectations of reduced regional tensions following reports that Iran proposed reopening the Strait of Hormuz to the U.S., with nuclear negotiations to resume once the U.S. naval blockade is lifted. This shift in sentiment boosted risk appetite across global markets, supporting Bitcoin's upside. Bitcoin has surged 13.78% this month, marking its strongest performance in six months following a consolidation phase in March.

Major altcoins participated in the rally: Ethereum gained 10.30% to $2,321, Ripple (XRP) rose 5.84% to $1.41, and Solana (SOL) climbed 3.20% to $85.75.