Bitcoin pulls back to $76,600 as rising oil price and Iran risks stall the rally

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin pulls back to $76,600 as rising oil price and Iran risks stall the rally Short-term holder profit-taking is offsetting fresh demand from ETFs and Strategy, pointing to consolidation below $80,000, Bitfinex analysts said. By Krisztian Sandor | Edited by Aoyon Ashraf Apr 27, 2026, 5:17 p.m. Make preferred on Bitcoin (BTC) price on April 27, 2026 (CoinDesk) What to know : Bitcoin slipped Monday below $77,000, reversing an overnight push toward $80,000 amid renewed tensions with Iran. Brent crude oil surged to $107, weighing on risk appetite as U.S-Iran talks ground to a halt. Bitcoins short-term holders have used the rally to take profits, offsetting the fresh demand from ETFs and Strategy, Bitfinex analysts said, adding that a pullback toward $75,000 is likely. The bitcoin BTC $ 76,740.92 rally toward $80,000 didn’t last long on Monday, with prices slipping back to $76,600 during the U.S. session as geopolitical tensions crept back into focus. After trading near $80,000 overnight, its highest level since early February, the largest cryptocurrency reversed course and was down about 1.5% over the past 24 hours. Major altcoins followed, with ether (ETH), XRP and solana (SOL) each falling around 3%. The pullback comes as investors grow cautious about the outlook for U.S.-Iran negotiations and the ongoing disruption to the Strait of Hormuz, a key global oil transit route. According to a Wall Street Journal report , Iran has proposed halting attacks on ships in the strait in exchange for a full end to the war, including lifting the U.S. naval blockade and delaying nuclear talks. The proposal aims to restart stalled negotiations, but uncertainty remains high after President Trump on Saturday canceled sending envoys to Pakistan for negotiating with the Iranian side. Oil prices continued to rise during the day. Brent crude oil prices, often used as the international benchmark, climbed more than 3% to $107 a barrel, while the West Texas Intermediate crude oil was up 2.6% to $97. The Nasdaq edged 0.3% lower in morning trading, pulling back from recent record highs, while the S&P 500 was flat, ahead of a big earnings week that includes Mag7 firms such as Alphabet, Meta, Microsoft and Apple. Meanwhile, crypto-linked stocks declined across the board. Shares of crypto exchange Coinbase (COIN) fell 1.5%, while Circle (CRCL), issuer of the USDC stablecoin, dropped 3.5% and Galaxy Digital (GLXY), a digital asset investment firm, slid nearly 6%. Short-term holders selling Under the surface, bitcoin's price action points to a market struggling to build momentum despite strong institutional demand. Bitfinex analysts noted that short-term BTC holders sitting in profit have been selling into strength, offsetting fresh demand from ETF buyers and Strategy (MSTR). "The path of least resistance in the near term is likely consolidation or a pullback toward the $75,000 region," the analysts said, adding that "a decisive break above $80,000 [is] required to confirm a more durable bullish regime." Read more: Bitcoin is climbing on thin volume, leaving rally vulnerable to macro shock Bitcoin News Market Wrap More For You Curve founder pitches market-based fix for $700K bad debt in contrast to Aave bailout By Francisco Rodrigues | Edited by Jamie Crawley 40 minutes ago The plan allows trapped lenders to sell tokenized claims on deposits, offering buyers an option-like bet on CRV's recovery. What to know : Curve founder Michael Egorov proposed a market-based fix for $700K in bad debt on LlamaLend by creating a pool for discounted claims. The plan allows trapped lenders to sell tokenized claims on deposits, offering buyers an option-like bet on CRV's recovery. This approach contrasts with the recent $230M Aave bad... 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