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▲ Bitcoin (BTC) Decline / AI Generated Image
Bitcoin (BTC) has turned bearish as geopolitical instability intensified following news of US President Donald Trump canceling his Pakistan peace talks schedule.
CoinGape reported on April 25 (local time) that President Trump abruptly canceled his planned visit to Pakistan for talks with Iran. President Trump also suspended the dispatch of special envoys, including Jared Kushner and Steve Witkoff. This is due to the negotiations reaching a stalemate after the Iranian side refused direct talks.
The market is showing a sentiment of avoiding risky assets as the possibility of peace settlement decreases. Bitcoin prices fell below the $78,000 mark, facing downward pressure. Iran's blockade of the Strait of Hormuz, a global oil shipping route, stimulated investors' fear. Although President Trump extended the ceasefire, actual diplomatic achievements remain uncertain.
News of the US Treasury freezing Iran-linked funds also worsened investor sentiment. Treasury Secretary Scott Bessent froze virtual assets worth $344 million to cut off Tehran's funding. As pressure from regulatory authorities intensifies, Bitcoin is currently undergoing a correction down to the $74,000 mark. Technical resistance is also clearly visible in higher time frames.
Bitcoin recovered to $79,000 last week but lost upward momentum and is currently declining. The failure to break through the resistance level near $78,500 was the direct cause of the price drop. As tensions in the Middle East have not eased, concerns about surging energy prices are pressuring the market. For the time being, geopolitical risks and President Trump's diplomatic moves are expected to determine the market's direction.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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