BTC Under Pressure, Iran Ceasefire Weighs
Bitcoin approached a key technical support level at US$70,500 on Thursday (April 9), after failing to maintain momentum following a rejection around US$72,800 in the previous session. Its next move will be determined by whether buyers are able to regain control or whether selling pressure triggers a deeper correction, amidst a return to cautious market sentiment.
This caution was fueled by uncertainty surrounding the recently agreed two-week US-Iran ceasefire. US President Donald Trump stated that all US ships, aircraft, and military personnel would remain "in and around" Iran until the "real deal" is fully complied with, warning of escalation if any violations occur. This statement kept the geopolitical risk premium alive, curbing risk appetite and discouraging institutional demand from increasing BTC exposure.
From Iran's side, Ambassador to Pakistan Reza Amiri Moghadam stated that an Iranian delegation would arrive in Pakistan on Thursday evening to begin the first round of talks on the 10-point plan with the US on Saturday, despite Iran accusing Israel of violating the ceasefire agreement with attacks in Lebanon. In the near term, the crypto market is likely to remain headline-driven: developments in the Pakistani negotiations, Lebanese dynamics, and the stability of the ceasefire are the main drivers of volatility, with the US$70,500 area acting as support and US$72,800–US$71,000 as levels monitored by market participants.
Source: Newsmaker.id
