Bitcoin (BTC) rebounded above the $77,000 level on Monday after President Donald Trump stated there was a “50/50” chance of reaching a peace agreement with Iran, boosting optimism across global markets. Improving sentiment surrounding the ongoing Iran–U.S. discussions helped lift risk assets, with the total cryptocurrency market capitalization rising by roughly 1.35% over the past 24 hours.
However, recovery momentum appears to be facing pressure. According to Santiment data, some of the network’s largest whales sold or redistributed 18,447 BTC — worth approximately $1.42 billion — over the last 96 hours.
Analysts remain divided on Bitcoin’s near-term outlook. Turkish economist Kamile Uray noted that while the peace-talk narrative helped BTC rebound, it failed to resolve broader structural uncertainty visible on the charts. Uray identified $78,213 as a key breakout level, with a move above it potentially strengthening the bullish structure. She also flagged the 0.618 Fibonacci level near $79,470 as a critical resistance zone for trend confirmation.
On the downside, Uray expects the first support target near $74,220 if BTC fails to hold its current structure, with a deeper correction potentially reaching $71,000. “This region is a Fibonacci support level and an area where buyers could step in. If buyers strengthen, there could be a rise again,” she wrote. To the upside, she identified the $107,000–$109,000 region as a major resistance barrier should Bitcoin regain bullish momentum.
Analyst Michaël van de Poppe offered a more optimistic view, suggesting Bitcoin may already be preparing for another move higher. He argued that a Middle East peace agreement could create a favorable macro environment — with lower oil prices and falling bond yields supporting renewed inflows into Bitcoin and altcoins. Van de Poppe noted that a break above $80,000 could accelerate momentum toward $90,000, and that improving conditions might spark a broader altcoin rally through the summer if Bitcoin stabilizes above key levels.
Not all analysts share that optimism. Byzantine General adopted a more cautious stance, warning that Bitcoin appears to have “ceased its upward trajectory” in the short term. The analyst cautioned that any relief rally toward recent highs could invite renewed selling pressure, and that the $74,000 level may only offer temporary support. A stronger wave of selling, the analyst suggested, could drag BTC toward the high-$60,000 range.
Source: Bitcoin Eyes $107K Resistance as Iran-U.S. Talks Lift Sentiment, Whales Sell