Bitcoin recovery rests on US-Iran deal as momentum remains weak
Bitcoin’s rebound looks fragile despite reclaiming $67,000. Analysts say declining volume, weak on-chain activity, and negative price momentum suggest the move lacks conviction. Swissblock said both price momentum and on-balance volume remain in a “weak momentum and participation regime,” with indicators still at bear-market lows. That means Bitcoin could retest recent lows unless both metrics turn positive. A key near-term driver is geopolitics: Bitcoin rose after reports that the US and Iran reached a peace deal, but if talks fail or tensions return, oil shocks and broader risk-off flows could pressure BTC even if it briefly acts as a hedge. The market is being driven more by macro and geopolitical events than by strong crypto-specific demand.
