BTC Price Dropping Another $3,000 Could Wipe Out All Ceasefire Gains, Analyst Warns
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Key points:
Bitcoin’s price has pulled back nearly $3,000 after briefly crossing $78,000 on Friday.
Analyst Ted Pillows said a drop to $72,000 would erase the ceasefire-driven rally.
Dogecoin and Binance Coin outperformed Bitcoin on Monday morning, while Ethereum and Ripple’s XRP lagged among crypto majors.
Bitcoin (BTC) held $75,000 on Monday morning after tensions between the U.S. and Iran escalated over the weekend following the seizure of an Iranian-flagged cargo ship.“NO MORE MR.NICE GUY,” President Donald Trump said in a Truth Social post on Sunday, claiming that Iran had committed a “serious violation” of the ceasefire. “They’ll come down fast, they’ll come down easy and, if they don’t take the DEAL, it will be my Honor to do what has to be done, which should have been done to Iran, by other Presidents, for the last 47 years.”
The comments come after Iran again tried to limit access through the Strait of Hormuz over the weekend, undoing an earlier reopening of the waterway.
The overall cryptocurrency market edged 0.2% higher in the last 24 hours, keeping above $2.6 trillion. Bitcoin’s price traded flat at around $75,100. On Stocktwits, retail sentiment around BTC continued to trend in ‘bullish’ territory, accompanied by ‘high’ levels of chatter over the past day.
The pullback follows Bitcoin’s move above $78,000 on Friday, with prices now down nearly $3,000 over the weekend. Analyst Ted Pillows said in a post on X, a further drop toward $72,000 would erase the entire ceasefire-driven rally.https://x.com/TedPillows/status/2046142324045148492?s=20
BNB, DOGE Lead Gains Among Crypto Majors
Dogecoin (DOGE) and Binance Coin (BNB) led gains among crypto majors on Monday morning. DOGE’s price gained 1.1% in the last 24 hours but remained below $0.10. BNB’s price gained 1% in the last 24 hours to around $626.
On Stocktwits, retail sentiment around Dogecoin trended in ‘bullish’ territory, while sentiment around Binance Coin improved to ‘extremely bullish’ from ‘bullish’ territory over the past day. Both saw retail chatter at ‘high’ levels.
Ethereum (ETH) and Ripple’s XRP (XRP) lagged among the top 10 cryptocurrencies by market capitalization. Ethereum’s price dipped 0.2% in the last 24 hours , keeping above $2,300, while XRP’s price edged 0.1% lower to around $1.42 in the last 24 hours.
On Stocktwits, retail sentiment around Ethereum flipped ‘bearish’ from the ‘bullish’ zone over the last day, accompanied by chatter at ‘high’ levels. Around XRP, retail sentiment remained ‘bullish’, also with chatter at ‘high’ levels.
source: https://www.tradingview.com/news/stocktwits:e1e0c75d5094b:0/
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