Bitcoin Price Holds Steady Amid Easing Geopolitical Tensions

The Bitcoin price has been steady above $70,000 despite the recent easing of geopolitical tensions. The US temporarily waived sanctions on Iran, which may boost BTC's outlook as it coincides with a decline in gold prices and increased outflows from exchanges.

According to CryptoQuant, exchange reserves have been at multi-year lows, indicating that demand is still present and buyers are moving coins to private wallets. This trend is usually observed when holders shift to a long-term holding strategy, especially after months of heavy discounts.