After tumbling nearly 4% late Friday amid heightened geopolitical tensions and heavy liquidations across the crypto market, Bitcoin (BTC) staged a sharp rebound over the weekend after President Trump signaled that a peace agreement involving Iran and several Middle Eastern nations was nearing completion. The easing of tensions lifted global risk sentiment, helping BTC recover above $77K after briefly slipping toward the $74K zone. Traditional markets also reacted positively, with U.S. equity futures turning green and risk assets witnessing renewed buying interest. Meanwhile, oil prices retreated as fears of supply disruptions in the Middle East eased, reducing pressure on inflation-sensitive markets and further supporting the recovery across crypto and tech stocks.
At the time of writing, BTC was trading at $77,153.
BTC witnessed a decent rally from $65,000 to $82,850, surging by almost 27%. On the weekly time frame basis, the asset was trading in an uptrend, forming a ‘Higher High Higher Low’ pattern. However, the bulls failed to maintain their grip on the asset, as it witnessed some profit booking at higher levels, causing the price to correct to $74,289. The longer shadow around the $74K level indicates buying interest at these levels. BTC has a strong support zone between $75,000 and $73,000. If it bounces and sustains above these support levels, then the bulls may resume the upward move. However, if the support breaks, the price may decline further and test the $65K levels.
Also Read: Bitcoin Pizza Day – The Transaction That Changed Crypto Forever
Key Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2. |
| $65,000 | $75,000 | BTC | $85,000 | $100,000 |
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