Bitcoin Can Hit $74,000 Despite Iran Tensions, Trader Predicts

Bitcoin (BTC) sat around $67,000 on Sunday as markets absorbed a wild weekend in the Middle East. TradFi markets could not adjust in real time, with US stock market futures down 0.65% at the time of writing. Crypto volatility cooled, and BTC/USD avoided a major breakout from its local trading range.

Michaël van de Poppe described the initial response as "positive" but warned of uncertainty over how US markets would open and noted an outstanding CME futures gap to the downside at $65,880. He pointed to Bitcoin’s 21-day simple moving average at $67,627 and said the 21-Day MA needs to break to trigger a relief rally he expects in March/April.

Trader BitBull said "$BTC looks good in the short-term" and predicted a rally toward the $73K-$74K level after a flip of resistance into support. Others, including Crypto Caesar, suggested geopolitical instability had been priced in and that markets may move sideways in the coming days.

Iran, Middle East

bitcoin, btc, bitcoin price, cme gap, 21-day ma, poppe, bitbull, crypto caesar, iran tensions, relief rally