Bitcoin Pulls Back as Trump Escalation Shakes Markets

Bitcoin increased from $66,000 to around $69,200 over two days, trying to recover after weeks of selling tied to the Iran conflict. Trading volume supported this move, and the RSI bounced back from oversold levels, giving some traders confidence—especially after Iran showed signs of wanting to end the war.

But that momentum didn’t last.

In his speech, Donald Trump didn’t offer any reassurance. Instead, he warned of strong U.S. action against Iran in the next two to three weeks and hinted at strikes on key infrastructure if no deal is reached. He also made clear there’s no plan to reopen the Strait of Hormuz anytime soon.

Iran responded quickly, rejecting the threats and warning of broader retaliation. Markets reacted by pulling back.

Oil prices jumped, reflecting expectations that the disruption of the Hormuz route—about 20% of global oil supply—will continue for now.

This cycle has repeated for weeks: markets rally on hopes for peace, then fall after escalations, resulting in little overall change. The Crypto Fear and Greed Index remains at 8, signaling extreme fear.

If tensions stay high, Bitcoin could see further drops. Immediate support is near $65,600. If that breaks, prices might slide toward $63,000 and possibly $60,000. With the RSI around 35, there’s room for more decline.

On the other hand, any positive news like ceasefire talks or softer rhetoric could spark a strong rebound. Rumors alone pushed the price from $66,000 to $69,200 in under two days, showing demand exists but the right catalyst is missing.

April tends to be a strong month for Bitcoin, but that usual trend now faces pressure from war, rising oil prices, and ongoing uncertainty.

The earlier bullish outlook has faded. The market is sensitive, and the next major news event will likely determine the direction.

#AprilMarketOutlook
#CryptoMarketSeesVolatility
$BTC ‌