Bitcoin and Ethereum open lower after President Trump cancels planned Iran attacks, citing ongoing negotiations.
Bitcoin (BTC-USD) opened at $76,952.05 today, down 0.6% from Monday’s open and marking its lowest level since May 1. As of 7:12 a.m. ET, BTC traded at $76,902.50. Ethereum (ETH-USD) opened flat at $2,128.55 but remains at its lowest point since April 7, with a 7:12 a.m. price of $2,115.84.
The decline follows President Trump’s announcement that he called off planned strikes on Iran after Middle East allies requested a pause. Trump indicated negotiations are underway but warned of potential large-scale action if no deal is reached. Both cryptocurrencies have struggled to find stable support levels.
Analysts suggest BTC faces two scenarios: a rebound toward $83,000 if current levels hold, or a drop to $74,000 and potentially the mid-$60,000 range if support breaks. Market focus remains on geopolitical developments and their impact on risk assets.