The primary cryptocurrency has shown remarkable resilience amid the ongoing military conflict in the Middle East, briefly rising to a monthly peak of almost $72,000.<\/p>\n
The big question now is whether this marks the start of a real breakout \u2013 or just another bull trap.<\/p>\n
The war between the USA (supported by Israel) and Iran has dominated global attention as the conflict intensifies, reshaping geopolitical alliances and fueling uncertainty across financial markets. Bitcoin (BTC) reacted negatively to the initial attack over the weekend, with its price plunging<\/a> below $64,000.<\/p>\n In the following days, though, it reclaimed some of the lost ground, while several hours ago it pumped to a one-month high of nearly $72,000 before retreating to the current $71,000. A potential catalyst for the revival could be emerging reports<\/a> that Iran has offered to discuss terms for ending the war.<\/p>\n Multiple analysts noted BTC\u2019s resurgence, claiming it may have more fuel left to post an additional increase. The popular trader, using the X moniker Crypto Tony, believes<\/a> a reclaim of $71,500 could open the door to a push to $74,000.\u00a0X user exitpump shared a similar thesis, suggesting<\/a> that a retest and hold of the $70K level may pave the way for a move above $75K.<\/p>\n Ash Crypto also chipped in. The analyst with more than 2 million followers on the social media platform said BTC\u2019s weekly Relative Strength Index (RSI) has plunged<\/a> to an all-time low. This means the price has dropped too much in a short period, making the asset oversold and ready for a potential comeback. Additionally, Ash Crypto outlined that sentiment among investors is at maximum fear: a development that could have marked the cycle bottom.<\/p>\n X user Ted drew<\/a> an interesting parallel between the Russia-Ukraine war and the current Middle East conflict. He reminded that shortly after the Russian invasion in February 2022, BTC experienced a major pump, speculating that history could repeat itself and the asset may soar to as high as $80K in the near future. However, Ted warned that the surge in 2022 was short-lived and followed by a major pullback, hinting that a similar pattern might unfold in the coming weeks.<\/p>\n Prior to that, the analyst argued<\/a> that a daily close beyond $70,000 \u201cwill be good for markets.\u201d At the same time, he warned that failing to hold above that mark could lead to a retest of the $65,000-$66,000 support zone.<\/p>\n The post Bitcoin (BTC) Nears $72,000: Major Rally Ahead or Another Dead-Cat Bounce?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The primary cryptocurrency has shown remarkable resilience amid the ongoing military conflict in the Middle East, briefly rising to a monthly peak of almost $72,000. The big question now is whether this marks the start of a real breakout \u2013 or just another bull trap. Further Gains Ahead? The war between the USA (supported by […]<\/p>\n","protected":false},"author":0,"featured_media":139665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-139664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/139664"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=139664"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/139664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/139665"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=139664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=139664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=139664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Bears Are Not Done Yet<\/h2>\n