BTC recovers near $80,000 after a 3% decline driven by US-Iran tensions, with traders eyeing mid-$70K support zones.
Bitcoin climbed back toward $80,000 on Friday after a 3% pullback triggered by escalating US-Iran geopolitical risks. The retreat followed rumors of renewed military action, weighing on risk assets, including the S&P 500, which retreated from record highs.
Traders identified critical support levels in the mid- to high-$70,000 range, emphasizing their importance for maintaining bullish momentum. Analysts noted that the correction aligned with typical market waves after a strong upward trend, suggesting consolidation before further gains.
Bollinger Bands data signaled heightened volatility ahead, while crypto trader Michaël van de Poppe described the dip as expected after recent rapid advances. BTC remained above key support, keeping the broader uptrend intact.