Bitcoin Holds Steady Amid Reduced Geopolitical Risk

Bitcoin has had a muted session in recent trading hours, with its price holding at $77,552. The cryptocurrency is currently above its short-term moving average but remains below broader mid-term averages.

The reduced geopolitical risk due to indications of a possible end to the US-Iran conflict has tempered Bitcoin's safe-haven appeal, according to analysts. This decrease in macro uncertainty continues to affect the market dynamics, limiting upside from recent volatility-driven inflows.

Looking ahead to the next two to three trading days, BTC is expected to consolidate within a typical volatility band of $75,482 to $79,266. The probabilistic scenario points to a 61% chance of a downward move and a 39% likelihood of an upward move.