Bitcoin fell to around $76,600 on Monday, reversing a push toward $80,000 as rising oil prices and renewed tensions involving Iran dampened risk appetite.
Brent crude surged above $107 per barrel as US-Iran negotiations stalled, adding macro pressure that weighed on both crypto and broader risk assets.
“The path of least resistance in the near term is likely consolidation or a pullback toward the $75,000 region,”
Said analysts at Bitfinex.
The pullback comes despite continued demand from ETFs and Strategy, which has been offset by profit-taking from short-term Bitcoin holders.
Bitcoin had briefly traded near $80,000, its highest level since early February, before slipping about 1.5% over 24 hours, while major tokens like Ethereum, XRP and Solana fell roughly 3%.
The broader market weakened alongside crypto, with the Nasdaq Composite down 0.3% and crypto-linked equities including Coinbase and Galaxy Digital also declining.
Analysts said a decisive break above $80,000 is still required to confirm a stronger bullish trend, with current price action pointing to consolidation as macro risks and profit-taking limit momentum.
At the time of reporting, Bitcoin price was $76,846.53.