Bitcoin fell below $77,000 on Tuesday after another failed breakout attempt, as a continued impasse between the U.S. and Iran and caution ahead of key central bank meetings dented risk appetite.
The world’s largest cryptocurrency was last down 0.5% at $76,377.5 by 17:38 ET (21:38 GMT).
The crypto had briefly jumped above the $79,000 level on Monday, but failed to sustain those gains, as traders locked in profits following repeated rejections near resistance levels.
"(Bitcoin) has shown remarkable resilience since hitting multi-month lows around $60,000 in early February, and there’s been a noticeable improvement in sentiment towards it. But it appears to have lost some upside momentum as it pushes towards $80,000," David Morrison, senior market analyst at Trade Nation, said.
"Could this prove to be a significant level of resistance, suggesting that a top is in for now? Or is Bitcoin merely consolidating and building momentum for another push higher?" Morrison asked.
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Oil prices climb amid U.S.-Iran impasse Oil prices climbed on Tuesday, with both benchmark contracts at one point topping $100 a barrel, as disruptions in the Strait of Hormuz continued to roil energy markets.
The supply concerns have kept crude elevated, stoking inflation fears and reducing appetite for risk-sensitive assets such as cryptocurrencies.
Media reports suggested that President Donald Trump was not happy with an Iranian proposal which would conclude the conflict and reopen the strait, but postpone discussions around Tehran’s nuclear ambitions to a later stage. CNN reported that mediators in Pakistan were expecting to receive a revised proposal from Iran in the next few days, citing sources close to the mediation process.
Sentiment was further dampened by a Wall Street Journal report that OpenAI had missed internal revenue and user growth targets ahead of a potential initial public offering. The report raised questions about the sustainability of the rapid investment cycle in artificial intelligence.
That has broader implications for cryptocurrencies, as enthusiasm around AI-linked innovation has been a key pillar supporting speculative demand across digital assets.
Central bank deluge; traders also watch Bitcoin 2026 Conference While the Middle East conflict continued to grab headlines, the spotlight this week is also on a wave of central bank meetings across the globe.
The Bank of Japan held interest rates steady on Tuesday, offering little surprise to markets, but highlighting ongoing concerns around inflation dynamics, particularly from higher energy costs.
Markets are now closely watching upcoming policy decisions from the Federal Reserve, the European Central Bank, and the Bank of England, among others, for cues on the future path of interest rates and liquidity.
Despite the near-term pressure, Bitcoin continues to find underlying support from institutional interest.
Meanwhile, the Bitcoin 2026 Conference kicked off in Las Vegas on Monday, an event that historically draws strong industry participation and can inject short-term volatility into prices.
Block discloses $2.2 billion in Bitcoin holdings in Q1 Jack Dorsey’s Block held 28,355 Bitcoin as of the end of March, according to the company’s first proof-of-reserves report published Monday. The holdings, verified by third-party auditors, were valued at approximately $2.2 billion.
Of the total, around 19,357 Bitcoin — worth roughly $1.5 billion — were held on behalf of customers across its Cash App and Square platforms, with the remaining 8,997 Bitcoin, valued at about $692 million, sitting on the company’s corporate balance sheet.
Crypto price today: altcoins a mixed bag Most altcoins were mixed on Tuesday in range-bound trading.
World no.2 crypto Ethereum inched up 0.1% to $2,289.29.
World no. 3 crypto XRP declined 0.7% to $1.3795.
Solana eased 0.6%, while Cardano climbed 1%.
Among meme tokens, Dogecoin rose 1.5%.
