Bitcoin risks drop below $76K as 7% oil slide fails to spark BTC price rally

Bitcoin (BTC) returned below $77,000 after Monday’s Wall Street open as crypto shrugged off hopes of a US-Iran peace deal.

Bitcoin fell below $78,000 as WTI crude oil hit $95.15 per barrel, its lowest since Oct. 15.

Gold extended daily gains to 2%, recovering from 13-month lows of $3,891 per troy ounce after a US stock sell-off on the back of tech earnings data.

BTC price action failed to break beyond $78,500, analysis by Rekt Capital warned, opening the door to levels below $76,000 next.

Bitcoin falls as earnings, US midterms overshadow Iran war hopes

Data from TradingView showed BTC/USD extending daily losses to 1.7% after reaching a local high of $78,750 after Sunday’s weekly close.