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According to CoinMarketCap data, the global cryptocurrency market cap now stands at $2.38T, down by 2.46% over the last 24 hours.Bitcoin (BTC) traded between $69,805 and $72,026 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $70,000, down by 1.79%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include KAT, STO, and SUPER, up by 51%, 21%, and 15%, respectively. Iran Conflict Rattles Markets as Oil Jumps, Bitcoin Wavers, and Diplomacy IntensifiesThe Iran conflict is dominating the global agenda today, pushing U.S. crude futures up over $2, tripling Russian oil revenues, and triggering capital outflows from Egypt and Turkey. Bitcoin slipped below $70,000 despite $11.3 billion in ETF inflows struggling to absorb retail selling, while the White House moved to unlock the $10 trillion 401(k) market for crypto and the CFTC promised imminent regulatory clarity. On the diplomatic front, Trump is heading to China in May for talks with President Xi, Iran is reviewing a U.S. 15-point peace proposal, and global investors are piling into U.S. Treasuries at record levels as a safe haven. Nvidia, meanwhile, faces a $1 billion class action lawsuit over alleged crypto mining revenue concealment — adding corporate controversy to an already turbulent day across markets and geopolitics.Iran Reviews U.S. 15-Point Plan, Pakistan's Foreign Minister SaysIran is considering a 15-point proposal put forward by the United States, confirmed by Pakistan's Foreign Minister. The plan's details remain undisclosed, but its outcome could significantly impact regional stability and international relations. Further developments are pending. White House Clears Rule That Could Open $10 Trillion 401(k) Market to Bitcoin and Crypto The White House has cleared a Labor Department rule that could open the $10 trillion U.S. 401(k) retirement market to Bitcoin and crypto. The proposal would amend fiduciary guidelines under ERISA to allow plan sponsors to include digital assets and private equity as investment options. Classified as "economically significant" — implying an annual economic impact exceeding $200 million — the rule follows a Trump executive order pushing broader crypto access in retirement accounts. If finalized, it could dramatically expand institutional demand for Bitcoin and reshape long-term market inflows. Trump to Visit China in May for Xi Talks as Iran War Delays Add Geopolitical TensionU.S. President Trump is set to visit China on May 14–15 for talks with President Xi Jinping — his first trip to Beijing in eight years. The visit was delayed due to the ongoing Iran conflict, which has added strain to U.S.-China relations. Discussions are expected to focus on trade, geopolitical coordination, and economic ties. Trump also plans to host Xi in Washington later this year as part of reciprocal diplomacy. Markets are closely watching the outcome, as any progress could ease global risk sentiment, while renewed tensions may drive volatility across equities, commodities, and crypto. Market movers:ETH: $2116.26 (-2.99%)BNB: $633.56 (-2.38%)XRP: $1.3802 (-2.66%)SOL: $88.87 (-3.83%)TRX: $0.3149 (+2.14%)DOGE: $0.09198 (-5.04%)U: $1.0004 (+0.03%)WLFI: $0.0993 (-2.07%)BCH: $467.4 (-2.36%)WBTC: $69878.94 (-1.83%)