Bitcoin’s brief lull that began on Friday was interrupted by a sharp, but short-lived, rise to just above $79,000 on Sunday morning following new developments in Iran–US relations.
Reports said Iran had submitted a fresh peace proposal to the United States, triggering the sudden uptick. US President Donald Trump, however, expressed skepticism.
“I will soon be reviewing the plan that Iran has just sent to us, but can’t imagine that it would be acceptable in that they have not yet paid a big enough price for what they have done to Humanity, and the World, over the last 47 years,” he said on his social media platform, Truth Social.
Trump’s pessimistic reaction may have stalled Bitcoin’s breakout, and the price quickly retreated back to around $78,000.
Earlier developments also influenced price action: a proposal from Iran on Friday pushed Bitcoin from below $77,000 to above $78,000, where it held into Saturday.
Despite these moves, some analysts remain cautious or worried about Bitcoin’s near-term trajectory. Ali Martinez warned that a key technical indicator—which previously signaled the rebound from February’s low—has now issued a major sell signal. If the $67,500 support level fails, this indicator suggests Bitcoin could fall below $60,000.