Bitcoin Price Risks Drop Below $76K as Oil Prices Slide 7%
Summary
Bitcoin fell about 1.7% and slipped below $77,000 after failing to hold a brief rise to $78,750, despite a sharp drop in oil prices on hopes for a diplomatic resolution to the US-Iran conflict. Analysts said resistance near $78,500 remains important and identified $76,000–$76,600 as key support. A break below that zone could bring the 50-week moving average near $75,700 and the 200-day average around $73,100 into view; a sustained move above $79,500 could support a recovery. Market uncertainty around geopolitics, US midterms and technology earnings also weighed on risk appetite.
