Bitcoin surged back above the $77,000 level, as improved geopolitical conditions triggered a sharp shift in global markets. The move followed comments from Seyed Abbas Araghchi stating that the Strait of Hormuz would remain fully open for commercial shipping during the ceasefire period. The announcement was positively received by Donald Trump, who publicly welcomed the development.
The easing of tensions led to a steep decline in oil prices, with crude falling nearly 13% to around $81.90 per barrel, marking its lowest level since the early stages of the conflict in March. The drop reflects reduced concerns over supply disruption through one of the world’s most critical energy chokepoints.
Bitcoin Faces Key Resistance at $76K–$78K Zone
Bitcoin rose to approximately $76,400, gaining around 3% over the past 24 hours as risk sentiment improved across financial markets. U.S. equity futures also climbed roughly 1%, reflecting a broader risk-on environment.
The $76,000–$78,000 range remains a significant technical resistance zone, as it previously preceded a sharp decline earlier in the year. Market participants note that repeated rejections at this level suggest strong selling pressure, although a decisive breakout above $77,000 could open the path toward higher price targets.
Market Outlook Hinges on Sustained Energy Stability
Traders are closely watching whether the reopening of the Strait of Hormuz leads to lasting stability in oil flows. Continued weakness in crude prices is reinforcing expectations of easing inflationary pressure, which has historically supported Bitcoin and other risk assets during macro-driven rallies.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.