Bitcoin (BTC) fell approximately 1.7% on Monday, briefly trading above $78,750 before slipping below $77,000 despite a sharp decline in oil prices. WTI and Brent crude dropped more than 7% and approximately 9%, respectively, after Marco Rubio indicated that the United States preferred a diplomatic solution to the conflict with Iran. Uncertainty surrounding the US midterm elections and technology companies’ artificial intelligence spending limited the recovery in risk-sensitive assets, while gold rose approximately 2%. QCP Capital identified the $76,000–$76,600 range as a critical support zone, with the 50-week moving average near $75,700. A sustained move above $79,500 could restore a previously lost trading range, while a breakdown below $76,000 would expose Bitcoin to support levels at $75,700 and $73,100.
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