Bitcoin faced renewed selling pressure, dropping toward $66,200 after being rejected near the $69,000 level. The decline coincided with broad risk-asset weakness following U.S. President Donald Trump’s address on the Iran conflict, which markets perceived as lacking explicit de-escalation. Analysts noted a potential bear flag pattern in Bitcoin’s price structure and warned that a strengthening U.S. dollar could pressure crypto and stocks toward new lows.
Bitcoin saw another price rejection near $69,000 on Thursday, recording daily losses of around 2%. Data showed that BTC dipped to lows near $66,200 amid a sell-off across major asset classes.
Crypto, stocks, and gold all fell following an address to the nation by U.S. President Donald Trump. While markets had anticipated de-escalation, Trump’s tone was seen as leaving the door open for further conflict escalation.
Trading resource The Kobeissi Letter stated in a reaction that the market is now trading like the Iran War is ramping up for another month-long escalation. The group wrote, “Ironically, President Trump is now back to solving the problem he fixed earlier this week: How will he contain the market?”
U.S. dollar strength rebounded toward the key 100 level on the dollar index. Trader and analyst Aksel Kibar had previously told followers that the stage was set for a breakout, targeting 104.
Crypto trader BitBull forecast an expansion phase for the dollar index next. He stated this would send crypto and stocks to new lows.
Some analysts continued to focus on Bitcoin’s bear flag construction, which carries the risk of a breakdown. Keith Alan, cofounder of trading resource Material Indicators, noted that BTC price action is still nearly identical to a prior bear flag structure.
Alan wrote on X, “I’m following it like roadmap until price deviates from that path.” The market showed heightened agitation, with U.S. oil prices back above $104 per barrel.
