Bitcoin price has slipped back below $79,000 today after another failed step in U.S.-Iran diplomacy cooled short-term risk appetite just as the market was testing a key resistance zone. BTC was trading at $77,840 after reaching an intraday high of $79,417 and a low of $77,572. The move left Bitcoin still near recent highs but unable to keep momentum above the upper end of its latest breakout attempt. The immediate macro trigger came from Washington’s decision to scrap a planned visit by envoys Steve Witkoff and Jared Kushner to Islamabad. According to reports, President Donald Trump called off the trip after judging Iran’s latest offer inadequate, even as Pakistani officials said negotiations were continuing remotely. Trump later said Iran could “call us” if it wanted to talk, while no face-to-face meeting was scheduled. Markets are now balancing two opposing forces. On one side, Bitcoin still has support from renewed institutional inflows and a broader April recovery. On the other hand, the U.S.-Iran conflict remains unresolved, the Strait of Hormuz is still central to negotiations, and oil prices reopened higher as traders reassessed the odds of a near-term diplomatic breakthrough. Diplomatic setback stalls Bitcoin near a key ceiling The latest setback followed a weekend in which Iran, through Pakistani mediators, sent the United States a new proposal centered on reopening the Strait of Hormuz and ending the war, while leaving nuclear negotiations for a later stage. That proposal kept hopes for de-escalation alive, but it did not produce the direct talks that traders had expected. Instead, the cancellation of the Islamabad visit signalled that the two sides remain apart on the main conditions for a broader agreement. That matters for Bitcoin because the asset has traded like a risk-sensitive macro asset during the recent Middle East conflict. The earlier ceasefire helped push BTC back toward the $79,000 area, but Monday’s rejection showed that traders are still reluctant to price in a clean move through $80,000 without clearer geopolitical progress. However, according to reports, no agreement has been reached to end the war, even though the ceasefire remained in place. The inability to hold above $79,000, therefore, looks less like a collapse in trend and more like a pause at resistance while macro headlines remain unstable. Bitcoin is still far above the lows seen earlier in the year, but each test of the upper-$70,000 area is now being measured against shifting headlines from Washington, Tehran, and Islamabad. ETF Inflows Continue to Support the Broader Structure Even with that hesitation, institutional demand has not disappeared. SoSoValue data showed U.S. spot Bitcoin ETFs recorded $823.70 million in net inflows last week, following $996.38 million in the prior week. That marked a fourth consecutive week of positive flows, reinforcing the role of ETF demand in Bitcoin’s April recovery. That flow picture helps explain why BTC has been able to absorb macro volatility without giving back the full rally. As we reported last week, Bitcoin price had already climbed to a two-month high near $79,468 as improving geopolitical sentiment and institutional demand pushed it back toward the $78,000 to $80,000 zone. That range remains important because it is where traders appear willing to take profits while still treating dips as part of a broader recovery. The result is a market that still leans constructive on a medium-term basis, even if the short-term move has lost some force. As long as ETF inflows remain positive and Bitcoin stays near the top of its recent range, the broader recovery remains intact. BTC Price Action as $80,000 Remains the Key Test Bitcoin price is still trading in a constructive recovery structure, but the latest move shows that buyers have not yet taken full control. According to crypto analyst Michael Van De Poppe, the market is now sitting at a decision point. The recovery from the mid-$60,000 zone remains intact because Bitcoin is still printing higher lows. As per his analysis, the bulls need a firm reclaim of the $79,127 to $80,646 zone to show that the recent rejection was only a pause and not the start of a deeper pullback. That resistance area matters because it is the first real supply zone after Bitcoin’s April rebound. A move through it would show that spot demand is strong enough to absorb profit-taking and short-term hedging tied to the latest geopolitical uncertainty. If price closes above that band and holds it as support, the next level to watch is around $86,549. That is the larger confirmation area in the structure you shared. Source: X A breakout there would shift the market from recovery mode into a stronger continuation phase and open the door toward $90,364 and then the psychological $100,739. However, if the Bitcoin price keeps failing near the upper $79,000 to $80,000 area, the first level to watch is $76,604. That is the nearest support and the line that separates a healthy pullback from a weakening trend.
