Bitcoin balances $60K tightrope as US stocks rebound on fresh Iran peace deal hopes
Bitcoin hovered near $60,000 as buyers failed to regain control of the key level, leaving price action choppy and range-bound near recent lows. US stocks rose on renewed optimism over US-Iran talks after reports that Iran requested a meeting, but BTC lagged behind equities. Traders said the $60K area is acting as resistance, with $58K and $61K as key levels to watch if the range breaks. Onchain data showed weak conviction from buyers, persistent spot net selling, and defensive positioning in derivatives and institutional demand. Market participants warned that volatility could stay elevated because the geopolitical situation remains uncertain and oil prices could rebound, which would likely weigh on crypto. Glassnode said a sustained Bitcoin recovery would require a meaningful return of buyer conviction.
