Bitcoin pulled back from a 12-week high of $79,399 overnight, setting the stage for a run to $80,000 for the first time since January. This came amid reports that Iran had offered a new proposal to the US to reopen the Strait of Hormuz, with nuclear talks delayed until after the US naval blockade is lifted. Despite this, Asian equities saw a surge in bitcoin, with the MSCI Asia Pacific Index rising 1.7 and Taiwan Semiconductor Manufacturing surging 6%. Bitcoin is up 16% in April, on pace for its first double-digit monthly gain since May 2025.