Monday began on a bullish note for the world’s largest cryptocurrency, Bitcoin, as BTC price climbed back above $77,300 after briefly crashing near $74,000 last week. as easing fears around a possible U.S.-Iran conflict helped improve sentiment across financial markets.
The rebound comes after days of heavy selling pressure that wiped billions from the crypto market and sent traders into a panic.
The biggest reason behind Bitcoin’s recent price recovery was improving geopolitical sentiment after U.S. President Donald Trump said a peace agreement involving Iran had been “largely negotiated” and was now awaiting final approval.
In a Social Truth post, Trump claimed that the final details of the agreement were still being discussed among the United States, Iran, Saudi Arabia, the UAE, Qatar, Turkey, Egypt, Jordan, Bahrain, and Pakistan.
This is subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries.”
The announcement eased market fears and boosted confidence in risk assets like crypto, helping Bitcoin rebound strongly after its earlier decline.
Another major reason behind Bitcoin’s rise is that investors are moving money out of altcoins and back into Bitcoin.
Even though U.S. Bitcoin ETFs saw more than $1.26 billion in outflows this week, on-chain data shows large investors are still quietly buying BTC during the dip.
At the same time, Bitcoin futures trading activity jumped sharply. Open interest in Bitcoin perpetual futures rose more than 10% in the last 24 hours, showing traders are expecting a bigger move ahead.
Crypto analyst Ali Martinez said Bitcoin is currently trading between strong support near $75,700 and resistance around $78,250. He also noted that whales moved more than 18,000 BTC during this consolidation phase.
Ali Martinez further noted that Bitcoin’s next move depends on whether it can stay above the $78,258 resistance level. If buyers manage to turn this level into support, it could signal more strength in the market.
If Bitcoin breaks higher and holds its momentum, the price could rise toward $84,500 in the coming weeks.
On the other hand, if Bitcoin falls below the $75,700 support level, selling pressure could increase.
In that case, BTC may drop toward the $66,900 area.
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