Bitcoin Follows Oil Lower as Iran Boosts Stocks But Sends BTC Price Below $75K
Cointelegraph
Bitcoin dropped below $75K, mirroring oil's decline despite a US-Iran peace deal boosting stocks.Summary
Bitcoin's price fell below $75,000 as relief over a US-Iran peace deal failed to lift cryptocurrencies, instead causing oil prices to drop. The deal, which includes a 60-day negotiation period and potential reopening of the Strait of Hormuz, sent stocks to new highs but led to a decline in commodities like oil. Bitcoin, however, continued its recent trend of diverging from US equities, moving lower alongside oil. Traders anticipate further downside for BTC, with some seeing potential lows near $70,000, citing bearish technical indicators and order book conditions. Despite some bullish interpretations of chart patterns, the overall sentiment remains cautious, with Bitcoin described as "weak and bearish."
(Source：Cointelegraph)