Bitcoin price reached $79,117 following the opening of Wall Street on Monday, recovering from weekend losses with a daily gain of approximately 3%. The asset successfully reclaimed its 50-week exponential moving average, which is positioned at $77,430.
Market sentiment shifted following statements from US President Donald Trump regarding a potential peace deal with Iran. Trump suggested that the military conflict could conclude soon, which led to a decline in oil prices, despite Brent crude trading at $105 and WTI crude remaining above $100 per barrel.
Investors are currently focused on the upcoming Federal Reserve meeting scheduled for Wednesday. According to the CME Group FedWatch Tool, the probability of an interest rate hike has risen to 92.7%, compared to 59.4% recorded one week ago.
Analysts at QCP Capital anticipate a 25-basis-point rate hike, bringing the target range to 3.75–4%. The firm noted that risk assets have already priced in this increase, suggesting that future market volatility will depend more on the rhetoric of policymakers than the rate decision itself.
