Bitcoin Slumps Toward Range Lows With US-Iran Press Briefing Due
Bitcoin dipped toward $66,000, potentially trapping late buyers, ahead of a press briefing by the US Secretary of War amid geopolitical tensions.Summary
Bitcoin (BTC) experienced a slump, briefly spiking above $68,000 before falling back toward local lows near $66,000, setting up what analysts described as a classic bull trap. Analysts pointed to aggressive new longs getting trapped by spot selling, as indicated by spot-market cumulative volume delta (CVD) data. Further caution was advised due to weak US demand, evidenced by a negative Coinbase Premium, which has been rare since October 2025. Market sentiment was heavily influenced by geopolitical nerves, specifically concerning oil supplies through the Strait of Hormuz, with WTI crude oil trading above $106. Traders are anticipating a press briefing by US Secretary of War Pete Hegseth before the Wall Street open. Some analysts suggest that the current trend is still downwards, expecting a sweep of the lows for liquidity before a potential upward return.
(Source：Cointelegraph)