Bitcoin has been reacting sharply to the West Asia crisis with the cryptocurrency surging just above $75,318 during the early April 16 trade.
However, it trimmed some of those gains to trade at $74,999 (9:37 IST), which is a 0.83 percent increase over the past 24 hours, as markets wait for clearer signals on the US–Iran conflict.
According to the CoinSwitch Markets Desk, the BTC followed a familiar pattern overnight, climbing close to $76K before slipping back to $73,900 as strong resistance held once again.
“The move looked promising but lacked the strength to break through. Still, the overall setup remains positive. Funding rates have been negative for 46 days, meaning many traders are positioning against BTC, which can fuel a sharp rally if prices rise. Bitcoin dominance is steady at 58.5%, showing its control over the market. With volatility tightening, $75K remains the key level to watch for a real breakout or another rejection.”
In the last 24 hours, Ethereum rose 1.18% to trade at $2,358 while among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Hyperliquid, and Cardano rallied up to 4.77%.
In a week, Ethereum and Bitcoin have gained 8.28% and 5.77%, respectively.
According to CoinMarketCap, the global crypto market capitalisation rose 0.84% to $2.54 trillion.
The ongoing Iran War places significant importance on how Bitcoin reacts around its key support levels. Holding above critical zones would maintain structural stability, while a breakdown could accelerate downside pressure.
Bitcoin Faces Critical Test After $76,000 Due to West Asia Crisis
