Bitcoin Price Risks Drop Below $76K as Oil Prices Slide 7%

TL;DR Bitcoin price risks another drop as it fell below $77,000 on Monday despite a sharp decline in oil prices fueled by hopes of a diplomatic resolution to the US-Iran conflict. BTC failed to break above $78,500, raising concerns about another move lower. Analysts warn that Bitcoin could fall below $76,000 if bearish momentum continues. QCP Capital identified $76,000–$76,600 as a critical support zone, with the 50-week moving average near $75,700. Bitcoin Fails to Rally as Oil Prices Retreat Bitcoin (BTC) struggled to recover on Monday as optimism surrounding a potential diplomatic resolution to the US-Iran conflict failed to translate into sustained buying pressure across cryptocurrency markets. According to TradingView data , BTC declined approximately 1.7% after briefly reaching $78,750 following the weekly close.

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