- Bitcoin fell below $77,000 as oil prices dropped on diplomatic hopes for US-Iran conflict.
- Gold rebounded 2% from 13-month lows after tech earnings rattled stock markets.
- Analyst Rekt Capital warns BTC could fall below $76,000 after failing to break $78,500 resistance.
- QCP Capital identifies support zone between $76,000 and $76,600 that has sparked reversals.
On Monday after Wall Street’s open, Bitcoin slipped below $77,000 as markets shrugged off optimism surrounding a potential US-Iran peace deal, with oil prices plunging over 7% on diplomatic signals. Data from TradingView showed BTC/USD extending daily losses to 1.7% after reaching a local high of $78,750 following Sunday’s weekly close. US Secretary of State Marco Rubio’s comments indicating a preference for a diplomatic resolution triggered a sharp retreat in crude oil, with WTI falling to $95.15 per barrel, its lowest since Oct. 15. US stocks opened higher on the news, but gains in the S&P 500 and Nasdaq Composite were tempered ahead of earnings reports from Apple and Palantir. Gold held onto a 2% daily gain, rebounding past $3,950 per ounce after hitting 13-month lows of $3,891 on Friday. Economist Robin Brooks forecast further gold gains as oil continues to fall, even if military action returns to Iran. Analyzing BTC price action, trader Rekt Capital warned on X that the three-day chart showed a successful bearish retest of resistance at $78,500, potentially opening the door to levels below $76,000. QCP Capital noted that the zone between $76,000 and $76,600 has sparked upward reversals four times since September. A daily close above $79,500 would recover lost ground, while a break of support would bring the 50-week average near $75,700 and the 200-day near $73,100 into view.
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