Bitcoin’s move toward the $80,000 level lost steam on Monday, with the price falling back to around $76,600 as geopolitical tensions and rising oil prices weighed on investor sentiment.
After briefly reaching its highest level since early February during overnight trading, BTC reversed lower in the U.S. session, declining about 1.5% over the past day. The broader crypto market followed suit, with ether (ETH), XRP and solana (SOL) each dropping करीब 3%, while the CoinDesk 20 Index slipped roughly 2%.
The decline comes as uncertainty grows around U.S.-Iran relations and continued disruption in the Strait of Hormuz, a key corridor for global oil flows. Reports indicate Iran has proposed halting attacks on shipping in exchange for concessions, including lifting the U.S. naval blockade and pausing nuclear negotiations. However, the situation remains fluid after reports that former President Donald Trump canceled plans to send envoys, leaving talks unresolved.
Oil markets reacted strongly, adding pressure to risk assets. Brent crude climbed more than 3% to around $107 per barrel, while West Texas Intermediate rose 2.6% to about $97.
In equities, the Nasdaq edged 0.3% lower from recent highs, while the S&P 500 traded flat ahead of a major earnings week featuring large technology firms such as Alphabet, Meta, Microsoft and Apple.
Crypto-linked stocks also moved lower. Coinbase shares fell about 1.5%, Circle declined 3.5%, and Galaxy Digital dropped nearly 6%.
Despite continued inflows from institutional investors, bitcoin’s internal market dynamics suggest momentum is fading. Analysts at Bitfinex noted that profit-taking from short-term holders is counterbalancing fresh demand from ETF buyers and Strategy (MSTR), limiting further upside.
Given this balance, the near-term outlook points to consolidation. Bitfinex analysts said bitcoin is likely to trade sideways or potentially drift toward the $75,000 level unless it can convincingly break above $80,000—a move that would signal a more durable bullish trend.
For now, bitcoin appears to be consolidating, with macro uncertainty and selling pressure continuing to cap gains.
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