Bitcoin fell below $77,000 as rising oil prices and growing uncertainty around U.S.-Iran relations created fresh pressure across global markets.
As of April 28, 2026, peace talks between the United States and Iran remained stalled, with no new agreement reached despite a fragile ceasefire and earlier failed direct negotiations. This has unsettled the markets, with Bitcoin ($BTC) pulling back while oil prices surge.
Key Points
- Bitcoin has dropped below $77,000 after failing to hold gains above $79,000 earlier in the week.
- Iran offered to reopen the Strait of Hormuz and delay nuclear talks, but the U.S. rejected the proposal.
- WTI crude surged from $98 to $104 before settling at $101.
- Bitcoin’s MACD Histogram bars have turned bearish, with immediate support at $75,000.
Oil Prices Spike as U.S. Rejects Iran’s Latest Proposal
On April 27, Iran reportedly sent a new proposal through Pakistani mediators in an effort to ease tensions. The proposal included reopening the Strait of Hormuz and lifting the U.S. blockade. In addition, Iran sought to work toward ending the war while delaying nuclear negotiations until a later stage.
However, President Donald Trump and members of his administration made it clear that Iran’s latest offer did not go far enough, per CNN. Trump insisted that Iran could not be allowed to develop nuclear weapons and suggested there was little reason to meet unless stronger nuclear concessions came first.
The U.S. had already canceled a planned delegation trip to Islamabad after viewing Iran’s earlier terms as inadequate, while concerns over travel security also played a role. Although indirect communication through mediators like Pakistan has continued, direct talks remain frozen.
Oil markets have since surged. The West Texas Intermediate (WTI) crude rose from $98 per barrel to a high of $104 before settling at $101 at press time. Even after pulling back slightly, WTI remains up 2.51% for the day, 4.09% for the week, after surging 12.74% the previous week.
Bitcoin Loses $77,000 Amid Bearish Signals
Expectedly, Bitcoin responded negatively to these developments. After climbing above $79,000 earlier this week, $BTC reversed yesterday and has continued falling today. The asset dropped below $77,000 today for the first time since April 22, when it had successfully reclaimed that level during its latest rally.
The $77,000 zone has played a major role in Bitcoin’s recent market structure. $BTC first lost this level in early February and stayed below it for an extended period as bearish pressure remained strong.
On April 17, Bitcoin attempted to retest the level but failed. A successful breakout on April 22 briefly restored bullish momentum, but the latest pullback has now erased the progress.
Also, technical indicators show increasing weakness. The MACD histogram has turned red, indicating that bullish momentum is fading. Bitcoin has fallen 2% today after already dropping 1.64% yesterday. At present, $BTC trades at $76,195, with immediate support near the middle Bollinger Band at $75,497.
While Bitcoin recently bounced from this level, its failure to recover $77,000 raises concerns. To rebuild upward momentum, $BTC would need to reclaim $77,000 and then break above the upper Bollinger Band at $79,869.
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