Bitcoin Stumbles at $70,000 as Analysis Eyes “Early Stages” of a Rebound

Bitcoin (BTC) fell below $70,000 at Tuesday’s Wall Street open as macro assets fell over Iran war tensions.

Key points:

• Bitcoin fails to turn $70,000 support as macro selling pressure sparks losses across global assets.

• Middle East tensions remain at the forefront, but analysis sees hope in Bitcoin’s “surprising resilience.”

• Traders stay split over whether bulls can rescue the current range.

Bitcoin comeback could be in “early stages”

Data from TradingView showed 1.5% daily BTC price losses, with BTC/USD giving back some of its early-week sprint to $71,800.

US stocks opened down on the day, with the Nasdaq Composite Index losing nearly 1%, while gold failed to pass $4,450. Oil inched toward $95 per barrel after an initial drop to start the week on the back of Iran peace rumors.

Markets remained on edge over the fate of oil passage through the Strait of Hormuz amid new Israeli strikes on Lebanon.

Commenting, trading company QCP Capital said that US President Donald Trump was seeking market stability despite the ongoing military action.

“Trump is navigating an increasingly complex geopolitical minefield and now has very little room to manoeuvre,” it wrote in its latest “Market Color” analysis. 

QCP said that BTC price action showed “surprising resilience” in the face of an escalating war.

“This resilience may reflect lower leverage across the system, but it could also signal the very early stages of a regime shift for BTC, where it no longer competes with traditional risk assets in the same way,” it added.

BTC price not “out of the woods entirely”

Continuing the cautiously bullish tone, crypto trader Michaël van de Poppe flagged a series of higher lows for BTC/USDT beginning late last month.

Related: Bitcoin value ‘off the chart’ as BTC price metric hits record lows in 2026

“Bitcoin constantly prints higher lows since the crash early in February. It’s a great sign and it shows that we’re about to witness more strength,” he told X followers on the day. 

Others remained convinced that new lows were due, with trader Jelle warning of a “Bart Simpson” chart pattern playing out on low time frames.

Trader and analyst Rekt Capital meanwhile confirmed skepticism over the strength of nearby long-term trend line.

As Cointelegraph reported, the 200-week exponential moving average (EMA) at $68,300 recently failed to act either as definitive support or strong resistance.

“The 200-week EMA is acting as both an unreliable resistance and an unreliable support, never truly confirming a clear role. Which thus could lend itself to further meandering in and around here before ultimately breaking down into additional Macro Downside over time,” he summarized on X.