Українська
Русский
English
Bitcoin Pulled Back After Trump Questioned a Ceasefire With Iran
During US trading hours, Bitcoin briefly climbed to new 13-week highs, but the market failed to hold above the $83,000 level.
Market sentiment shifted quickly after another wave of news related to Iran. Uncertainty surrounding a possible ceasefire prompted some traders to begin taking profits.
Following the latest comments regarding Iran, Bitcoin almost immediately pulled back from the area above $83,000.
According to TradingView, Bitcoin on the Bitstamp exchange climbed to a local high of $82,833.
BTC/USD hourly chart. Source: TradingView.
Bitcoin began rising after reports of a possible ceasefire between the United States and Iran.
One of the discussed conditions reportedly included restoring oil shipments through the Strait of Hormuz.
However, Donald Trump later cooled market optimism by signaling that there was still no certainty regarding an agreement with Iran.
“If they do not agree, the bombings will continue. And unfortunately, they will be far larger and harsher than before,” he wrote on Truth Social.
Following those remarks, Bitcoin quickly retreated from local highs and returned to the $81,500 area.
Meanwhile, oil markets experienced sharp volatility. WTI crude lost more than 10% within several hours before rebounding back toward $96 per barrel.
WTI crude oil futures hourly chart. Source: Cointelegraph/TradingView.
Analysts at The Kobeissi Letter highlighted unusually large short positions in WTI just before the price decline.
According to their data, short positions in oil reached nearly $1 billion.
WTI light crude oil futures chart. Source: The Kobeissi Letter/X.
The Market Is Now Watching the $78,000 Area
Meanwhile, market participants continue monitoring liquidation zones across exchanges to determine where Bitcoin could stabilize during a pullback.
Trader Daan Crypto Trades wrote on X that significant liquidity zones still remain above the market around $82,400.
“Price has already taken most of the local liquidity that accumulated over the past 24 hours. But Bitcoin is now trading at three-month highs, so broader charts are needed to identify the next major levels,” he noted.
On the downside, the analyst identified the $80,100 and $78,200 zones as key levels currently being monitored by the market.
Crypto market liquidation history. Source: CoinGlass.
Over the past 24 hours, more than $550 million worth of positions were liquidated across the crypto market.
Approximately $400 million of that total came from short positions.
At the same time, trader CrypNuevo believes that Bitcoin already appears overheated on lower timeframes.
In his view, the market now looks prepared for a minor pullback.
That level is currently located around $78,432.
“Ideally, price could continue rising for some time without serious reversal signals. That would push the market further into overbought territory, making short positions much more attractive at higher levels,” he wrote on X.
BTC/USD four-hour chart with 50 SMA. Source: TradingView.
See also: "Toncoin Price Forecast: TON Continues Rising Amid Expectations of a Breakout Above $3.00"
