Bitcoin Tops $78K After Iran-U.S. Peace Update and Heavy Spot ETF Inflows

Bitcoin traded above $78,000 on May 2, extending gains after an earlier dip below $76,000; one report put the day's rise at about 1.3%, while other outlets recorded intraday peaks near $78,800 ^{[1] [2]}.

Market participants linked the move to diplomatic developments after reports that Iran delivered a revised peace proposal to the U.S. via Pakistani channels; several outlets tied the negotiations update to the uptick in BTC prices ^{[3] [2]}.

Spot Bitcoin ETFs continued to draw sizable inflows, with BlackRock reportedly adding about $284 million in a single day and April flows for spot ETFs cited at roughly $1.97 billion; another outlet reported $630 million of ETF inflows on the day ^{[4] [2] [1]}.

Analysts noted technical support levels remain well below current prices, with one technical analyst identifying a key support zone near $54,000 ^[2].