Bitcoin’s push toward $80,000 fizzled Monday as rising oil prices and renewed Iran-related risks cooled the market. After touching its highest level since early February overnight, BTC reversed course in the U.S. session, sliding to about $76,600 (roughly $77,021 at one point) and ending the day down ~1.5% over 24 hours. Wider market fallout - Major altcoins followed suit: ether (ETH), XRP and solana (SOL) each dropped roughly 3%. - The CoinDesk 20 Index, a benchmark for the broader crypto market, fell about 2%. - Crypto-linked equities also weakened: Coinbase (COIN) -1.5%, Circle (CRCL) -3.5% and Galaxy Digital (GLXY) nearly -6%. Geopolitics and oil weigh on risk appetite Investors grew cautious amid fresh uncertainty around U.S.–Iran talks and continued disruption in the Strait of Hormuz, a key global oil transit route. The Wall Street Journal reported that Iran has proposed stopping attacks on ships in the strait in exchange for a full end to the war — including lifting the U.S. naval blockade and pausing nuclear talks — as a bid to restart stalled negotiations. Uncertainty intensified after President Trump canceled plans to send envoys to Pakistan for talks with Iran. Energy prices rose alongside the tensions, reinforcing risk-off trading. Brent crude climbed more than 3% to about $107 a barrel, while West Texas Intermediate rose ~2.6% to near $97. Macro backdrop, earnings season and equities U.S. equities pulled back modestly: the Nasdaq down ~0.3% and the S&P 500 flat as markets brace for a heavy earnings slate from big tech (Alphabet, Meta, Microsoft and Apple). That, combined with oil-driven risk sentiment, weighed on crypto flows. On-chain and market structure signals Despite strong institutional demand — including ETF buying and interest from players like MicroStrategy (MSTR) — short-term bitcoin holders have been “selling into strength,” according to Bitfinex analysts. They said this selling has offset new inflows and left momentum fragile. “The path of least resistance in the near term is likely consolidation or a pullback toward the $75,000 region,” they wrote, adding that “a decisive break above $80,000 [is] required to confirm a more durable bullish regime.” Bottom line Bitcoin’s rally appears vulnerable to macro and geopolitical shocks: higher oil prices and renewed Iran-related uncertainty have already knocked prices back, while profit-taking from short-term holders is trimming upside despite institutional demand. Unless BTC can clear and hold above $80,000, expect consolidation or further tests of the mid-$70,000s. Read more AI-generated news on: undefined/news