Bitcoin has reached around $77,200, reflecting a 0.4% increase, as a 5% drop in oil prices has positively influenced Asian equities. The decline in oil prices follows reports of a potential reopening of the Strait of Hormuz, a vital oil passage that had been disrupted due to conflict. Asian markets responded favorably, with India's Nifty index climbing over 1% and Japan's Nikkei rising nearly 3%. However, the cryptocurrency market remains cautious due to significant outflows from ETFs, which have exceeded $2 billion in just two weeks. Analysts emphasize that while Bitcoin's current position above its 50-day moving average is encouraging, the overall market sentiment is tempered by the need for a finalized peace deal between the U.S. and Iran to ensure further stability. The CoinSwitch exchange noted that traders are still apprehensive, with recent data indicating a net inflow of Bitcoin into centralized exchanges, suggesting potential selling pressure.