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BTC Bitcoin swings amid rising geopolitical tensions and market downturn
Bitcoin's decline continues with a new round of geopolitical turmoil between the United States and Iran and cryptocurrencies are approaching critical levels. Bitcoin was close to the $62,000 mark when Wall Street trading kicked off, making investors already uneasy by geopolitical tensions more cautious.
Tensions in the Middle East?
In fact, geopolitical tensions between Washington and Tehran have intensified, unsettling global financial markets. The Nasdaq Composite Index fell 1% in early trading, reflecting investor anxiety. At the same time, oil prices rose, with West Texas Intermediate hovering around $75 a barrel.
In a recent interview, U.S. President Donald Trump discussed strengthening the U.S. military presence in the critical Strait of Hormuz-a strategic gateway for global oil shipments. Trump declared that the United States was ready to defend the tunnel, calling it a "guardian angel" role and hinted that compensation might be sought for it.
U.S. President Donald Trump said the United States intends to secure and regulate the Strait of Hormuz, emphasizing the country's willingness to serve as the guardian of this important sea corridor.
Intensifying geopolitical pressure has prompted funds to flow into liquid assets and traditional safe-haven assets, putting additional downward pressure on major digital assets such as Bitcoin.
Market Reaction: Selling Pressure Rising?
BTC/USD fell back to around US$62,000, highlighting the increase in short positions during early trading hours in the United States. Analysts observed that sellers dominated the market, pushing Bitcoin to a new low early this week.
JDK Analysis warned that there was a lot of short activity as price levels hovered around mVWAP (volume-weighted average price), and this key support needed to be protected by long traders. This indicator helps determine support and resistance levels through average trading volume and price levels.
JDK Analysis points out that if sellers effectively break the VWAP threshold, Bitcoin may be retested for US$60,000. At the same time, open interest has increased, and comments have shown aggressive short selling continues.
Optimism on Bitcoin rebound
Despite widespread selling pressure, there are still optimism about Bitcoin's recovery. Trader Roman expressed optimism, noting that technical indicators such as RSI and trading volumes showed signs of a weakening downtrend.
Roman expressed optimism about a rebound, believing that while gains may be achieved, the timing and structure of the recovery will be critical.
Bitcoin is still under pressure from tensions between the United States and Iran, close to US$62,000.
Cryptocurrency markets respond to escalating geopolitical pressures.
The increase in short interest highlights bearish sentiment.
VWAP levels are seen as key support for Bitcoin.
Some market observers are still optimistic about the recovery of Bitcoin.
Against a backdrop of geopolitical complexity and market reservations, Bitcoin continues to fluctuate, with analysts and traders divided over its future direction. Some expect a possible rebound in the near term, boosted by technical indicators and broader market conditions that could favor Bitcoin's recovery to the target area of $70,000.
