Bitcoin (BTC) attempted to hold the $75,000 level into Sunday’s weekly close but faced pressure as geopolitical tensions resurfaced. Fresh concerns around the US–Iran conflict and reports of Iran closing the Strait of Hormuz raised fears of rising oil prices and broader market uncertainty. Earlier optimism around a ceasefire quickly faded, highlighting how fragile sentiment remains. Technically, BTC is still struggling near a key 21-week resistance, with no clear breakout yet. Meanwhile, volatility picked up, with nearly $260 million in liquidations over the past 24 hours, mostly from long positions. Overall, the market remains highly reactive, with sentiment shifting quickly on geopolitical developments.
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At the time of writing, BTC was trading at $74,435.
Bitcoin (BTC) established a low near $60,000, followed by a strong bullish candle that drove the price up to around $71,750. However, the upward momentum lacked continuation, with buyers failing to produce a sustained follow-through rally. Subsequently, BTC entered a consolidation phase, trading within a well-defined range between $65,000 and $75,000 on relatively low volume, forming a classic rectangular consolidation pattern. A breakout from this range occurred last week, with the price reaching a weekly high of $78,333. Despite this bullish breakout, momentum remained limited as BTC encountered strong resistance near the $80,000 level, leading to a modest pullback. A decisive breakout, accompanied by a strong close and sustained price action above the $80,000 resistance zone, would likely signal renewed bullish strength. In such a scenario, BTC could potentially extend its rally toward the $90,000–$93,000 range.
Key Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2. |
| $60,000 | $65,000 | BTC | $75,000 | $80,000 |
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