Bitcoin experienced a decline during the Tuesday opening of the Wall Street trading session, dropping to a low of $77,600. Analysts emphasize that the price support level at $78,300 is critical for the asset to avoid further downward trends.
The market downturn coincided with a broader drop in US stocks, including the S&P 500 and the Nasdaq Composite Index, which fell by 0.5% and 0.4% respectively. This volatility follows renewed tensions in the Middle East and reports of strikes on oil infrastructure.
Energy markets reacted significantly to the geopolitical situation, with WTI crude oil prices surging toward $95 per barrel, marking the highest level since June 8. Brent crude also approached the $100 threshold for the first time since July 24.
Market observers note that rising oil and diesel prices are fueling inflation expectations ahead of the upcoming Consumer Price Index release. Meanwhile, US President Donald Trump stated that oil prices are expected to decline following the resolution of the conflict with Iran.
Technical analysis from Rekt Capital suggests that a weekly close below $78,300 could confirm a bearish breakdown. This scenario mirrors the market movement observed in May 2026, when Bitcoin failed to sustain a breakout at $82,800 before declining.
