Bitcoin Slips Below $84,000 Amid US-Iran Tensions, Macro Data Looms
Cryptocurrency market value declined on Sunday as investors weighed ongoing US-Iran negotiations and anticipated macroeconomic data. Bitcoin dipped below $84,000 after reaching a high of $85,000 earlier in the day.
Ethereum prices wavered between $2,667 and $2,720, while Dogecoin gained ground. Over $190 million was liquidated from the market in 24 hours, with long and short positions split nearly evenly, according to Coinglass data.
Bitcoin's open interest fell by 0.50% over the last day and more than 11% over the past week. Binance whale derivatives traders turned 'bullish' on BTC, while retail investors remained neutral. The Crypto Fear & Greed Index showed a prevailing 'greed' sentiment in the market.
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, identified $84,800 as the key resistance Bitcoin must break to continue its upward trend. Charter Market Technician Aksel Kibar noted that Bitcoin's weekly candle near $84,000-$85,000 'does not look like a decisive breakout.'