Bitcoin (BTC) struggled near $60,000 around Monday’s Wall Street open as bulls increasingly risked a support/resistance flip.
Key points:
US-Iran meeting announcement sends stocks higher
Data from TradingView showed an ongoing battle to regain control of $60,000, with BTC price strength again failing to keep pace with US stocks.
BTCUSD one-hour chart. Source: Cointelegraph/TradingView
The S&P 500 and Nasdaq Composite Index both started the week in the green amid renewed optimism of rescuing the US-Iran peace deal.
In a post on Truth Social, US President Donald Trump wrote that Iran had "requested a meeting,” which would take place in Doha, United Arab Emirates, on Tuesday.
S&P 500 four-hour chart. Source: Cointelegraph/TradingView
Commenting on the latest events, trading company QCP Capital nonetheless cautioned over the potential for oil prices to rebound — a key potential headwind for crypto.
“While both countries appear to have agreed to stand down for now, the situation remains uncertain. That said, oil prices have remained largely stable in the low $70s, suggesting cautious optimism that tensions may ease,” it wrote in its latest Market Color analysis.
CFDs on WTI crude oil four-hour chart. Source: Cointelegraph/TradingView
On Friday, WTI crude fell below $68 per barrel for the first time since early March, but was back above the $70 mark at the time of writing.
“U.S. markets are also set to be closed on Friday, while the situation between the U.S. and Iran remains fluid, leaving volatility likely to stay elevated, partly driven by thinner liquidity conditions, similar to what we saw over the past weekend,” QCP added.
Bitcoin needs more "conviction" from buyers
Bitcoin market participants thus sat on the sidelines as “choppy” price moves defined low-time-frame market action.
“Chopping around in this range at the previous June lows. The ~$60K region keeps capping price as we have some marginally higher low wicks below,” trader Daan Crypto Trades wrote in his latest X analysis.
BTCUSDT one-hour chart. Source: Daan Crypto Trades/X
In its latest Market Pulse bulletin, onchain analytics platform Glassnode said that buyers “have so far lacked the conviction required to establish a sustained recovery, leaving price range-bound near local lows.”
“Beneath the surface, the market remains in a phase of structural adjustment as capital continues to contract and participants adopt a more defensive posture,” it reported.
Bitcoin price momentum data (screenshot). Source: Glassnode
While noting “more balanced” onchain data, Glassnode added that a shift toward supply ownership by more speculative investors increased the potential for price volatility.
“Taken together, Bitcoin appears to be stabilizing around the $60K region, but with spot order flow, derivatives positioning, and institutional demand all remaining defensive, a sustained recovery is likely to require a meaningful return of buyer conviction,” it concluded.
Select market data provided by ICE Data Services. Select reference data provided by FactSet. Copyright © 2026 FactSet Research Systems Inc.Copyright © 2026, American Bankers Association. CUSIP Database provided by FactSet Research Systems Inc. All rights reserved. SEC fillings and other documents provided by Quartr.© 2026 TradingView, Inc.
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