Bitcoin Momentum Fades Amid US-Iran Uncertainty

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LVRG Research director Nick Ruck says Bitcoin could face a “volatile path” if a recently agreed peace deal between the US and Iran breaks down.

Bitcoin’s recovery is hinged on a successful peace deal between the US and Iran as its onchain metrics show the cryptocurrency remains weak despite its recent recovery, analysts say.

Nick Ruck, a director at LVRG Research, told Cointelegraph that despite Bitcoin (BTC) recently reclaiming $67,000, its “momentum remains weak, with declining volume and stagnant on-chain metrics indicating that the recovery lacks conviction and could quickly fade.”

He added that if a recently brokered peace deal between the US and Iran breaks down, the following geopolitical instability and potential oil shocks would see Bitcoin “face a volatile path.”

“It may initially find bids as a hedge asset before broader risk-off flows push it toward key support zones, underscoring how macro and geopolitical catalysts continue to dominate crypto price action.”

Bitcoin has recently been trading in tune with the wider market as institutions have bought up exposure to the cryptocurrency. Its recent price rise came as US President Donald Trump said on Sunday that the US had completed a peace deal with Iran to end months of conflict, which is expected to be signed on Friday.

Much of the deal remains unknown; however, Trump said it would see the Strait of Hormuz open and the US lift its blockade of the Strait and of Iran’s ports. The two countries will then begin 60 days of negotiations over Iran’s nuclear program and potential sanctions relief, the Associated Press reported on Monday.

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