- On April 14, Donald Trump said Iran was ready to continue peace talks.
- This news caused an outflow of capital from the oil market and an inflow into the stock and crypto markets.
- As a result, Bitcoin almost broke the resistance at $76,000.
After US President Donald Trump saidThe news that Iran is ready for peace talks has shifted sentiment in financial markets. Traders turned to stocks and cryptocurrencies, seeing this as an opportunity to reduce defensive positions.
Oil prices fell on the news. Oil price Brent crude fell below $100 per barrel, after trading around $120 in recent weeks. The decline in oil prices eased inflation concerns, and markets responded. Bitcoin, which has been under pressure from the US-Iran conflict since late February, briefly came close to the $76,000 level.
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This step was of great importance because Bitcoin broke resistance around $74,000, below which it had spent three to four weeks. This breakout triggered algorithmic buying and momentum flows, pushing the price toward the $76,000 range.
Short positions have been liquidated. Coinglass statistics shows, that over $277 million in leveraged short positions in Bitcoin were closed in the last day as the price of Bitcoin rose, mainly due to spot demand.
Inflow of funds into spot exchanges Bitcoin-funds (ETF) also affected the situation. Recently ETF fixed net inflow funds of approximately $1,1 billion. Efirium followed Bitcoin upwards, rising 6% on the day. Other digital assets followed suit.
In the beginning of March Bitcoin reached $76,000 amid a separate round of short-covering and inflows through ETFThe rally on April 14 followed a deeper decline due to uncertainty surrounding Iran, which gave it a different character. Essentially, it was a breakout from the recent consolidation, rather than a continuation of the previous rally.
For Bitcoin to continue its rally, it needs to consolidate above the supply zone of $74,500–$76,000. Prices in the $77,000 to $80,000 range could be seen as the next significant resistance, especially if US-Iran negotiations lead to progress. A clear close above $76,000 could accelerate a move toward the $80,000–$83,000 range.
Holding above $72,000–$74,000 maintains the bullish structure. A diplomatic breakdown between Washington and Tehran could quickly put pressure on this level.
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