Bitcoin drop below $78K after Trump cancel Iran talks
Bitcoin (BTC) drop from around $78,000 to about $77,200 after President Trump cancel plans to send special envoys to Pakistan for possible US–Iran peace talks. The sudden geopolitical delay bring back risk worries, pull BTC below the $78K support band and widen the selloff.
BTC test lower levels as 24-hour trading volume fall roughly 40% to about $18B, showing weaker near-term risk appetite. Despite the move, BTC still up about 10% versus a month ago. Trump say the cancellation meant to avoid "wasting time," and stress it no mean return to open conflict, while an existing US-brokered ceasefire with Iran has been extended indefinitely.
Market-sensitive details also add pressure: reports say the US freeze $344M in Tether (USDT) linked to Iran, and the Strait of Hormuz blockade tie to higher reported Iranian daily losses. Traders still dey watch BTC resistance near $80,000, with potential path toward $90,000 on sustained breakout. Some momentum gauges improve, including weekly MACD turning positive for first time in five months.
Bearish
Di event don direct cause down break: BTC loss di $78K support area an comot go lower, and 24-hour volume drop about ~40%, show say risk appetite cool down quick. Geopolitical wahala around US–Iran diplomacy (talks cancel) dey make traders put body for defensive short-term, wey align with bearish momentum. But the bearish case no pure structural. Trump talk say US–Iran ceasefire remain active/extended indefinitely, reduce chance say escalation go happen sharp sharp. Also some momentum indicators (weekly MACD) reportedly don improve, and BTC still about up 10% for the month. Long-term, if negotiations siddon for side but ceasefire continuity hold and technicals stabilize, downside fit fade. For trading, near-term focus still be whether BTC fit reclaim the $78K–$80K zone; fail likely go keep pressure, while sustained breakout above ~$80K fit shift bias toward a $90K test.