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Bitcoin rebounds near $75,360 amid US-Iran ceasefire talks but faces resistance below $76,600.

Market News
24 May 2026
Coinpaper
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Neutral
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Bitcoin's price recovered to about $75,360 after dipping below $75,000, driven by optimism over a potential 60-day ceasefire deal between the US and Iran. The ceasefire talks include easing sanctions and reopening the Strait of Hormuz, which could ease inflation and oil price pressures affecting risk assets like Bitcoin. However, Bitcoin faces technical resistance near $76,600, with analysts warning of possible declines if it fails to break above this level. Additional pressure comes from large Bitcoin ETF outflows and whale selling, indicating cautious market sentiment despite the geopolitical optimism. A sustained move above $80,000 would require stronger buying demand and confirmed easing of geopolitical risks.

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