Bitcoin slips below $77,000 as oil sinks on US-Iran peace hopes

Bitcoin gives up $77,000 despite hopes of a peaceful end to the US-Iran conflict

Bitcoin (BTC) fell about 1.7% on Monday and returned below $77,000 after the Wall Street open, according to TradingView data. The drop came even as markets priced in higher odds of a non-military resolution to the US-Iran conflict, following comments from US Secretary of State Marco Rubio.

The move came after a local high of $78,750 reached following Sunday's weekly close.

Key numbers

• Bitcoin fell roughly 1.7% on the day, slipping below $77,000.
• US WTI crude oil dropped more than 7%, near $96.50 per barrel, after touching $95.15, its lowest since Oct. 15.
• Brent crude was 9% lower, around $103.30 per barrel.
• Gold held 2% daily gains, rebounding past $3,950 per ounce after hitting 13-month lows of $3,891 on Friday.

Oil prices sink after Rubio's diplomacy comments

Speaking to reporters, Rubio said President Donald Trump would like to end the conflict "diplomatically." According to CNBC, Rubio said: "He hasn't made a decision… what the president expresses to you is incredible confidence that if we needed to do something militarily, we would have the ability to do it, and we really we have everything we need to be successful. But we would prefer to do it peacefully."

Previously, Trump had suggested that military strikes could return around the US midterm elections on Tuesday. Rubio's comments triggered a sharp retreat in oil prices.

Stocks trim gains ahead of Apple and Palantir earnings

US stocks opened higher on the news, but the upside for the S&P 500 and the tech-heavy Nasdaq Composite Index was soon tempered ahead of third-quarter earnings reports from Apple and Palantir. Last week, earnings figures and Q4 projections had sparked downside volatility across risk assets and precious metals as fears over AI spending returned to the fore. At the time of writing, the Nasdaq Composite Index was around 0.2% higher on the day.

Gold rebounds from 13-month lows

Gold held its 2% daily gains more firmly than stocks, recovering past $3,950 per ounce after Friday's 13-month low of $3,891. Economist Robin Brooks argued in a blog post that gold could rise further as oil prices continue to fall, writing that "the recent drop in gold below 4,000 is entirely about the spike in oil prices we've had since the attack on the Saudi East-West pipeline on Sep. 10," referencing strikes on Saudi oil infrastructure.

Analysts watch the $76,000 support level

Analyst Rekt Capital warned on X that Bitcoin had failed to break through horizontal resistance at $78,500 on the three-day chart, a pattern he called a successful bearish retest, meaning a failed attempt to hold above a previous level. "Indeed, the 3-Day bearish retest was successful and price could very well go below ~$76000," he wrote.

Trading company QCP Capital noted that the zone between $76,000 and $76,600, a support band where falling prices have previously found buyers, had sparked an upward reversal four times since September. "BTC sits between the 76,000–76,600 support band and 79,500–80,500 resistance. A daily close back above $79,500 would recover the band lost on Thursday," the firm summarized, adding: "A break of support would bring the 50-week average near $75,700 into view, with the 200-day near $73,100 below that." These are analyst views, not confirmed outcomes.

What is confirmed

• Bitcoin fell about 1.7% on Monday, returning below $77,000 after a local high of $78,750.
• WTI crude fell more than 7% and Brent crude 9% following Rubio's comments, as reported via CNBC.
• Rubio publicly stated Trump would prefer a peaceful resolution and has not made a decision on military action.
• US stocks opened higher but pared gains ahead of Apple and Palantir earnings.
• Gold rose 2% after hitting 13-month lows on Friday.

What is still unclear

• Whether the US-Iran conflict will actually be resolved diplomatically; Trump has not made a decision, according to Rubio.
• Whether Bitcoin will hold the $76,000–$76,600 support band; the sub-$76,000 scenario is an analyst forecast, not a confirmed outcome.

Why this matters for crypto holders

The source material shows Bitcoin trading in line with wider risk assets rather than on crypto-specific news this session. Its price moved alongside oil, stocks and gold as markets reacted to geopolitics and corporate earnings. The price levels identified by analysts ($76,000–$76,600 support and $79,500–$80,500 resistance) are being watched by traders as markers for the next move, though no outcome is guaranteed.

What to watch next

The US midterm elections are scheduled for Tuesday, a date Trump had previously linked to the possibility of renewed military strikes. Third-quarter earnings reports from Apple and Palantir are also due, which the source identifies as a factor tempering stock gains. Analysts point to a daily close back above $79,500 as the level that would recover the range Bitcoin lost on Thursday.

Where this information comes from

• Cointelegraph