The crypto market was little changed on Thursday, with bitcoin $BTC$72,907.04 and ether (ETH) posting gains of less than 1% as investors consolidated following Wednesday’s breakout.

While bitcoin crucially held above the $70,000 level that had rebuffed ealier rallies, it has failed to deliver an upside shift to $80,000 that some analysts predicted.

Global equities responded well to reports that Iran had secretly reached out to the U.S. in hopes of making an agreement to end the war in return for limiting its missile production.

The Dollar Index (DXY) fell as a result, but remains up by 3.5% since late January as traders attempt to rationalize potential interest rate changes by the Federal Reserve. Disruption in the Strait of Hormuz…