Just as it surged past $78k, it was met with cold water—will Iran's response this time be a bull trap?

Bitcoin's price rebounded strongly on Friday due to Trump's announcement of the Strait of Hormuz reopening, soaring to a 10-week high above $78k, then pulling back to around $77,000.

The main reason for this market movement is that Trump claimed yesterday that significant progress had been made in negotiations for a permanent peace agreement, with the deal "basically completed," more talks scheduled for this weekend, and Iran having agreed to an indefinite halt to its nuclear program.

Iranian Speaker Ghalibaf denied Trump's positive statements, saying that passage still needs to follow the "designated route" and be authorized by Iran. But if the U.S. continues its blockade, Iran will close the strait, and Trump’s seven prior declarations are all false.

The market reacted quickly to Trump's initial easing statement, with BTC breaking through $78,400, reaching the highest level since early February. However, a correction followed, and it is now slightly below $77,000.

Analysts believe that this rally was mainly driven by expectations of easing tensions in the Middle East, but if Iran's denial proves true, Bitcoin could face rapid resistance to further gains.

According to market patterns, unless another major event occurs, Bitcoin prices tend to remain relatively stable over the weekend, meaning significant volatility is more likely to happen within the next 48 hours (roughly after Sunday evening).

Finally, do you think Bitcoin's brief surge past $78,000 on Friday was a trap to lure more buyers or a genuine breakout? And will Iran's statement become the trigger for a sharp decline in Bitcoin prices next week?

#BTC