Bitcoin price confirms recovery hitting highest price since start of Iran war and Trump tariff chaos

Bitcoin recovered over the weekend, hitting the $73,500 to $73,800 resistance band, marking its highest level since the start of the Iran conflict and Trump tariff uncertainty. This recovery occurred despite sustained high oil prices disrupting Strait of Hormuz supply and reduced expectations for Federal Reserve rate cuts. The market structure shows that while Bitcoin has repaired panic damage by accepting moves above $68,000 and $71,500-$72,000, the current test of the upper resistance band is vulnerable, as most previous tests resulted in rejection. The macro backdrop remains hostile, with oil surges impacting inflation expectations. However, steady demand from U.S.-listed Bitcoin ETFs suggests larger buyers have not disappeared. The base case is a range-bound fight between $72,000 and $73,800. A sustained hold above $73,500 would target $77,100, but a rejection followed by a loss of $72,000 would bring $71,500 and potentially $68,000 back into focus.

(Source：CryptoSlate)