Bitcoin Price Risks Drop Below $76K as Oil Prices Slide 7%

TL;DR Bitcoin price risks another drop as it fell below $77,000 on Monday despite a sharp decline in oil prices fueled by hopes of a diplomatic resolution to the US-Iran conflict. BTC failed to break above $78,500, raising concerns about another move lower. Analysts warn that Bitcoin could fall below $76,000 if bearish momentum continues. QCP Capital identified $76,000–$76,600 as a critical support zone, with the 50-week moving average near $75,700.

Source: Bitcoinist