Bitcoin saw a slight decline as the United States resumed airstrikes on Iran despite hopes of de-escalation.
Bitcoin prices fell back below $76,500 on Tuesday morning, down 1.5% from their intraday high of $77,700 on Monday.
The move follows reports that the United States has resumed strikes on southern Iran, targeting missile sites and boats attempting to plant mines.
The strikes were carried out “to protect our troops from threats posed by Iranian forces,” but the military “has exercised restraint during the ongoing ceasefire,” US Central Command said in a statement.
Agreement or no agreement?
Hours earlier, President Trump said on Truth Social that negotiations with Iran were “going well.”
“It’ll only be a good deal for all or no deal at all – Back to the battle front and firing, but bigger and stronger than ever – And no one wants that!”
Over the weekend, Trump claimed a deal had been “extensively negotiated,” raising hopes it would be finalized this week.
Crude oil prices, which fell below $90 for the first time this month on Monday, rose around 2% with the resumption of conflict.
Jeff Mei, chief operating officer of the BTSE exchange, remained optimistic. “We believe that if US attacks on Iran are limited, Bitcoin is unlikely to fall below the $70,000 mark,” he said.
You might also like:
“However, if the conflict appears to be able to persist over a longer period of time, Bitcoin could very well fall back to the $60,000 low reached at the start of the conflict.”
Jeff Ko, chief analyst at CoinEx, agreed, telling CryptoPotato on Tuesday that technically, $70,000 remains the “next defended low for Bitcoin,” while $65,000 would be the “next key stress level” if the macro or geopolitical backdrop deteriorates further.
“That said, I think Bitcoin’s ability to absorb recent macroeconomic shocks has actually been quite constructive,” he added.
“The asset has not collapsed despite geopolitical uncertainty, suggesting that the market is consolidating rather than entering a complete risk aversion phase.”
Is BTC about to fall further?
Macro trader Jason Pizzino remained bearish, opining on X that Bitcoin appears to be preparing to retest the lows, as it does with every bear market.
“Declining volume, lack of social interest (search volume) and structure reminiscent of increased weakness,” he said.
Bitcoin appears to be preparing to retest the lows, like every bear market (or 4-year cycle).
Declining volume, lack of social interest (search volume) and structure reminiscent of additional weakness.
Perma bears will call for lower and lower prices, while… pic.twitter.com/KwowfhSWzb
–Jason Pizzino 🌞 (@jasonpizzino) May 26, 2026
BTC was trading at $76,480 at the time of writing, and further losses appeared imminent.
