Bitcoin
Bitcoin surged from $75,000 to nearly $82,000 within days despite the broader macro pressure seen last week, reaching its highest level since the beginning of the month. However, the attempted breakout was halted around $82,000 as reports of escalating tensions in the Middle East added fresh pressure to the market.
Reports on Sunday indicated that hostilities involving Saudi Arabia and Iran-backed Houthis had escalated, with reports suggesting attacks involving drones and ballistic missiles. BBC also reported that some energy sites along Saudi Arabia’s Red Sea coast were targeted.
Saudi authorities said they intercepted and destroyed a ballistic missile fired toward Riyadh on Saturday evening, adding that there were no casualties and no new attacks.
Additional reports added to the uncertainty. Daily Iran News, an X account with more than 500,000 followers, claimed that Iran had issued “Code 100,” its highest alert level, for its armed forces. The report covered the IRGC, Army and security forces.
The developments were also followed by reported changes in the movements of political leaders. Trump reportedly shortened his weekend at Camp David and returned to the White House, citing the potential for significant escalation. Israel’s Netanyahu was also reportedly heading back to Israel after cutting his U.S. trip short.
The geopolitical developments came as Bitcoin was already facing a technical obstacle. After falling to $75,000 following the Senate vote on the CLARITY Act and the Federal Reserve’s rate hike and hawkish outlook, Bitcoin staged a strong recovery on Friday and Saturday, approaching $82,000.
That rally, however, changed the asset’s technical setup. According to Ali Martinez, the TD Sequential had previously flashed a buy signal when Bitcoin dropped to $75,000 but switched to a sell signal on Saturday evening, when BTC reached approximately $81,500.
The rejection at $82,000 therefore came from both sides: renewed geopolitical uncertainty created additional pressure, while the technical indicator had already shifted toward a potential pullback after Bitcoin’s rapid recovery.
The next focus is whether Bitcoin can regain the $82,000 area or whether the combination of geopolitical uncertainty and the TD Sequential sell signal keeps the recent rally under pressure.
