Bitcoin price has fallen below $77,000 on Monday as rising geopolitical tension between the United States and Iran weighed on risk assets and triggered a rapid wave of crypto market liquidations.
At press time, the BTC price had dropped as much as 2.2% to $76,551 in early trading, its lowest level since May 1, before recovering slightly to trade near $76,800.
The selloff came as US President Donald Trump warned Iran that the “clock is ticking,” saying there “won’t be anything left of them” if Tehran does not move quickly toward a peace agreement. The warning followed stalled diplomatic talks aimed at ending the conflict that began after US-Israeli airstrikes on February 28.
US-Iran Tensions Pressure Bitcoin and Risk Assets
Negotiations between Washington and Tehran remain deadlocked over nuclear activity, sanctions relief, frozen assets, and compensation demands. The US administration has reportedly proposed a framework requiring Iran to transfer its highly enriched uranium stockpiles to the US and limit nuclear operations to one active facility.
Iran has sought a full removal of economic sanctions, access to frozen foreign assets, financial reparations, and an end to hostilities involving Israeli strikes against Hezbollah in Lebanon. Iranian media described the US proposal as lacking tangible concessions.
Reports of possible renewed military action added to market caution. The Pentagon is said to be preparing plans for “Operation Epic Fury 2.0,” while Trump is expected to meet senior national security officials to review military options involving Iranian energy infrastructure.
However, as of press time, a source close to Iran’s negotiation team said the US had agreed in a new draft to temporarily waive Iran’s oil sanctions during negotiations. The report said the waiver would be handled through a temporary OFAC exemption until a final agreement is reached.
Iran has continued to demand the full removal of all sanctions as part of any deal commitments, the report added. Tehran is also seeking the release of frozen foreign assets, financial compensation linked to war damage, and an end to hostilities, including Israeli strikes connected to Hezbollah in Lebanon.
Crypto Liquidations Cross $500 Million
Crypto market liquidations rose sharply as the Bitcoin price decline accelerated. Coinglass data cited in the report showed that almost $500 million in bullish crypto positions were liquidated within 15 minutes during early Asian trading. Over the 24 hours leading into early European trading, roughly $590 million in long positions were unwound.
The selloff followed several days of pressure on Bitcoin and wider crypto markets. US-listed spot Bitcoin exchange-traded funds recorded more than $1 billion in weekly net outflows, ending a six-week inflow streak. Spot Ethereum ETFs also posted outflows of about $255 million, while spot Solana and XRP ETFs recorded inflows of $58.12 million and $60.50 million, respectively.
Source: X
On-chain data also pointed to lower retail activity. Bitcoin inflows to Binance from wallets holding less than 1 BTC reportedly fell to their lowest monthly average on record, near 314 BTC. That compares with around 1,000 BTC in January 2024 and higher levels seen in earlier market cycles.
Bitcoin Price Holds Near Key $76,000 Support
According to crypto analyst Michael Van De Poppe, Bitcoin's current price trend is best described as a corrective consolidation after a strong rally, not yet a confirmed bearish reversal.
The BTC price recently moved from around $65,000 to $82,000, a rally of more than 25%. After that type of move, a pullback toward support is normal. The current weakness below $77,000 shows short-term selling pressure, but the broader structure has not fully broken down unless Bitcoin loses the $76,000 support zone with conviction.
Source: X
However, if the Bitcoin price holds above $76,000, the market can still be viewed as consolidating inside a healthy range. In that case, BTC could attempt to recover toward the $79,100 CME gap, followed by the $80,000–$82,000 resistance zone. A clean reclaim of $82,000 would shift momentum back in favor of buyers and open the path toward the next major resistance area between $88,000 and $93,000.
Nonetheless, if the BTC price closes decisively below $76,000, the structure becomes weaker. That would suggest the recent rally has failed to hold its main support, increasing the risk of a deeper move toward $71,000.
