2026-04-08 05:35:39

The price of Bitcoin (BTC) rose above $72,000 after breaking through a major resistance channel near $68,800, driven by renewed risk appetite related to the Iranian situation and geopolitical peace talks, although the rally has since retreated to a consolidation phase above $70,500.

Bitcoin price broke above the resistance level at $72,000.
The BTC/USD pair broke through a downtrend channel on the hourly chart. This breakout above $68,800 opened the door for quick gains through levels of $69,500, $70,000, and beyond $72,000.
Bitcoin reached a session high of $72,728 before pulling back.

The pullback caused the price to fall below the 23.6% Fibonacci retracement level of the move from the swing low at $67,734 to the high at $72,728.

BTC4.5%

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