Bitcoin Pulls Back After 12-Week High as $79,400 Resistance Caps Rally

Bitcoin slipped after briefly touching a 12-week high near $79,400 before facing strong selling pressure during Asian trading hours. The move marked its third failed attempt in eight sessions to break above the $79k–$80k resistance zone, reinforcing the area as a key technical ceiling for traders. At the time of reversal, Bitcoin hovered around $77,600, slightly lower on the day, while major altcoins such as Ethereum, Solana, and BNB also recorded mild declines.

Market Drivers and Key Macro Catalysts Ahead

The initial rally was supported by improved global risk sentiment following geopolitical headlines involving Iran and renewed optimism around potential energy trade flows. Asian equities and commodities briefly surged in response, helping lift crypto markets in early trading.

However, analysts noted that the $80,000 level has become a breakeven zone for recent buyers, triggering profit-taking and limiting upside momentum despite Bitcoin’s 16% monthly gain.

Traders now focus on upcoming Federal Reserve and European Central Bank policy decisions, alongside major tech earnings, which could determine whether Bitcoin breaks out of its current consolidation range or remains capped below resistance.

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.