Weekend talks on a ceasefire between U.S. and Iranian delegations did not go as planned.
Talks in Pakistan’s capital, Islamabad, did not yield the desired results, causing another market decline. Bitcoin ($BTC) rose to $74,000, but negotiations ended without a result and it was again rejected.
the fact that $BTC The three attempts to break out of this area in the last month clearly indicate that this is a significant resistance level.
Coin Bureau founder Nick Pucklin said Bitcoin’s current rally is vulnerable to geopolitical and macroeconomic setbacks resulting from the ongoing wars in the Middle East.
“Even if the war were to end now, the impact will continue through 2026. The second quarter will definitely be the dominant one. We don’t expect a rate cut until the end of the third or fourth quarter, or not at all,” the analyst said.
The analyst said $71,000 is an important level in the short term, and if it holds, further gains could occur. However, analysts suggest that $74,000 could be a strong resistance level. $BTC.
Finally, analysts believe further highs for Bitcoin are possible. He said that for Bitcoin to rise to $90,000, geopolitical tensions need to ease, oil prices fall to the $80 level, and stagflation concerns are resolved.
*This is not investment advice.
