Bitcoin nears $80K as risk appetite rebounds

Bitcoin climbed nearly 3% to around $78,700, approaching the $80,000 level as risk sentiment improved alongside rising U.S. equities.

The move follows a recent pullback from the same level earlier in the week, with traders now watching whether bitcoin can break through what is widely seen as a key resistance point.

At the same time, oil prices eased after Iran reportedly signalled willingness to resume talks with the United States, supporting broader market optimism despite ongoing supply tensions.

Brent crude slipped slightly even as concerns persist over disruptions in the Strait of Hormuz, highlighting a mixed macro backdrop for risk assets.

“I think $80,000 is quite a resistance… we need a confident push through that level,”

Said Adrian Fritz.

Analysts say a breakout above $80,000 could trigger renewed momentum and attract sidelined buyers, while a move beyond $85,000 may signal a broader trend reversal.

The latest price action underscores bitcoin’s sensitivity to macro shifts, with improving risk appetite and easing geopolitical headlines helping support the current rally.

At the time of reporting, Bitcoin price was $78,348.80.