Bitcoin drops below $78K after Trump cancels Iran talks

Published: 2026-04-25 21:42:32 |

Bitcoin (BTC) fell from around $78,000 to about $77,200 after President Trump scrapped plans to send special envoys to Pakistan for potential US-Iran peace talks. The sudden geopolitical delay revived risk concerns, pulling BTC below the $78K support band and widening the selloff. BTC retested lower levels as 24-hour trading volume dropped roughly 40% to around $18B, signaling weaker near-term risk appetite. Despite the move, BTC remains up about 10% versus a month ago. Trump said the cancellation is meant to avoid “wasting time,” and stressed it does not mean a return to open conflict, while an existing US-brokered ceasefire with Iran has been extended indefinitely. Market-sensitive details also added pressure: reports said the US froze $344M in Tether (USDT) linked to Iran, and the Strait of Hormuz blockade is tied to higher reported Iranian daily losses. Traders also keep watch on BTC resistance near $80,000, with a potential path toward $90,000 on a sustained breakout. Some momentum gauges improved, including a weekly MACD turning positive for the first time in five months.

Bearish

The event directly drove a downside break: BTC lost the $78K support area and moved lower, while 24-hour volume fell ~40%, showing risk appetite cooled quickly. Geopolitical uncertainty around US-Iran diplomacy (talks scrapped) tends to keep traders defensive in the short term, which aligns with bearish momentum. However, the bearish case is not purely structural. Trump emphasized the US-Iran ceasefire remains active/indefinitely extended, limiting the probability of an immediate escalation. Also, some momentum indicators (weekly MACD) reportedly improved, and BTC is still ~up 10% on the month. Long-term, if negotiations remain sidelined but ceasefire continuity holds and technicals stabilize, downside may fade. For trading, near-term focus remains on whether BTC can reclaim the $78K–$80K zone; failure likely keeps pressure on, while a sustained breakout above ~$80K could shift bias toward a $90K test.