Bitcoin($BTC), its struggle continues to exceed $70,000 as the US-Iran conflict continues at full tilt.
Currently, the market is waiting for the five-day deadline given to Iran by US President Donald Trump to end. Yesterday, Trump announced a five-day pause in operations targeting Iranian energy infrastructure.
At this point, analysts predict that Bitcoin’s trend will depend on the events that occur at the end of this period, while a senior analyst highlighted the $75,000 level for $BTC to enter an upward trend.
Speaking to CoinDesk, FxPro chief market analyst Alex Kuptsikevich said that while Bitcoin could continue to rally amid geopolitical uncertainty, a sustained move above $75,000 is necessary for a full-fledged bull market.
If the upward movement is encouraging for the bulls, according to the analyst, the real test for $BTC will be approximately $75,000.
This level is very critical for Bitcoin and has been a significant turning point at least twice in the last 12 months. During the March-April 2025 decline, Bitcoin lost its bearish momentum around $75,000, and the early 2024 rally also encountered resistance here. Additionally, $75,000 corresponds to the retracement levels according to the important Fibonacci pattern.
At this point, the Fxpro analyst believes that Bitcoin needs to surpass $75,000 to confirm its transition into a bull market.
“Although Bitcoin may not immediately benefit from bullish momentum and increase its gains, its ability to remain at current high levels indicates confidence among bulls. They are gradually developing a more optimistic outlook.”
However, it would be too early to say that the downtrend is over until prices move above $75,000, where the March inflection points and the 61.8% Fibonacci retracement level resulting from the January-February decline are concentrated.
*This does not constitute investment advice.
