Bitcoin Recovering Modestly as US-Iran Tensions Weigh on Crypto Market
Bitcoin (BTC) has been recovering modestly on Friday, trading at $65,400 and holding firmly above its key support zone. The broader cryptocurrency market faces headwinds due to rising tensions between the US and Iran, pushing Bitcoin down to its 50-day Exponential Moving Average (EMA) support around $65,135.
Despite this, Ethereum (ETH) shows signs of stability near the immediate $1,900 hurdle, backed by mild capital inflows. Meanwhile, Ripple (XRP) faces rejection at key resistance levels, keeping the short-term technical outlook bearish for Bitcoin and other cryptocurrencies.
The price of Bitcoin has dropped 50% from its all-time high of $126K down to $64K. Options data suggests this correction might be a prime buy signal in 2026, but regulatory uncertainty and restrictive monetary policy dampen institutional risk appetite for digital assets.