The post Bitcoin Wavers At $70K As Iran War Rocks Markets appeared on BitcoinEthereumNews.com. Bitcoin searches for equilibrium at $70,000 while rising crude oilThe post Bitcoin Wavers At $70K As Iran War Rocks Markets appeared on BitcoinEthereumNews.com. Bitcoin searches for equilibrium at $70,000 while rising crude oil

Bitcoin Wavers At $70K As Iran War Rocks Markets

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Bitcoin searches for equilibrium at $70,000 while rising crude oil prices and tanking stock markets have investors worried over the future of inflation in the US.

Bitcoin’s (BTC) swift rejection from its $76,000 range high on Tuesday, and the subsequent sell-off below $70,000, raised concerns among traders that the bottom is not in for BTC.

Chartered market technician Aksel Kibar suggested that a bearish wedge pattern similar to the one seen from December 2025 to early January 2026 may be forming again. 

Kibar said, 

BTC/USD: Source: X / Aksel Kibar

Kibar also referenced an X social post from Jan. 18, 2026, where he explained that BTC would need to respect its year-long average as “part of the chop and search for a base.”

Kibar said that “the pattern can become a rising wedge, usually bearish in an attempt to test $73.7K-$76.5K support area.” 

Bitcoin follows US stocks as high oil prices and rising inflation rock markets

Bitcoin’s tumble below $70,000 followed sharp selling in US stocks, where traders’ concerns over crude oil prices, the cost of the US and Israel-Iran war and its impact on inflation zapped investor confidence.

Related: Bitcoin vs gold shows potential bottom signals as BTC bulls defend $70K

In a post discussing how the current decisions by the Trump administration could impact inflation, The Kobeissi Letter said,

In its BTC Options Weekly report, Glassnode analysts concluded that “Bitcoin has reintegrated its range after a short-lived deviation above the $75K level.” 

The analysts explained that within the options market, Bitcoin’s “short gamma at $75K has been unwound.” 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

Source: https://cointelegraph.com/news/bitcoin-price-aims-to-hold-70k-amid-rising-inflation-concerns?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound

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