Bitcoin falls below $80K after Iran rejects US peace deal, sparking market sell-off.

Bitcoin dropped below $80,000 on May 7, erasing gains from earlier in the week after reaching a multi-month high of $82,833. The decline followed Iran's rejection of a US peace proposal, which increased fears of escalating conflict and triggered $270 million in liquidations in the crypto market. Despite the drop, bitcoin remains up nearly 5% for the month and 15% over 30 days. The situation highlights geopolitical risks impacting cryptocurrency prices and market volatility.