As ceasefire talks between the United States and Iran progressed, bitcoin briefly rose above $72,000 during the session. On April 9 (local time), CoinDesk reported that bitcoin rose about 1.3 percent after Israel said it would promptly begin talks with Lebanon, and was trading around $71,700.

The rebound followed a reversal of an early decline. Israeli Prime Minister Benjamin Netanyahu said he instructed the cabinet to start negotiations with Lebanon as quickly as possible. Earlier, NBC News reported that U.S. President Donald Trump asked Netanyahu to lower the intensity of bombardments. It said the bombardments could threaten the ceasefire announced earlier in the week.

The crypto market also reacted immediately. Bitcoin climbed quickly after the news and was up 2 percent over 24 hours. U.S. stocks also reversed a slight early decline, and the Nasdaq index turned higher, up 0.65 percent. At the same time, U.S. West Texas Intermediate crude neared $103 a barrel intraday before sliding to $98.60. Expectations of easing Middle East risk pulled oil lower and revived demand for risk assets.

Within the market, bitcoin's relative strength stood out. Ether, Solana and XRP each rose less than 1 percent. It indicated bitcoin drew in funds more strongly while major altcoins posted only limited gains.

Price moves against technology stocks have also diverged in recent days. Software stocks that had moved with bitcoin in recent months weakened on the day. The iShares Expanded Tech-Software ETF, IGV, fell 4 percent, nearing a key support level around $76. That zone was cited as a level where IGV had rebounded after testing it several times.

The performance gap over the past month also widened. Bitcoin rose 9 percent over the past month, while IGV fell 12 percent. Based on a 20-day moving average, the correlation coefficient between bitcoin and IGV fell to 0.34. It suggests the two assets' price moves are becoming less linked.

Against that backdrop, bitcoin also appeared to respond more sensitively to geopolitical factors. As news emerged in quick succession on the start of talks with Lebanon, the request to scale back bombardments and expectations of maintaining the ceasefire, bitcoin shifted direction ahead of major altcoins and software stocks. Changes in the Middle East situation, oil moves and the weakening correlation between bitcoin and technology stocks are expected to remain key points to watch.