Bitcoin (BTC) Retreats Under $77K While Oil Climbs and Fed Decision Looms

TLDR Bitcoin declined 2.4% to $76,923 following its third unsuccessful attempt to surpass $79,000 resistance over eight trading sessions Major altcoins including Ether, Solana, and XRP experienced losses ranging from 3.2% to 3.9% during the 24-hour period Brent crude climbed above $109 per barrel, marking its seventh consecutive day of gains amid stalled US-Iran negotiations US equity futures dipped on Tuesday despite record closing highs for both the S&P 500 and Nasdaq on Monday Wednesday’s Federal Reserve policy announcement and major technology company earnings releases remain focal points for markets this week Bitcoin retreated beneath the $77,000 threshold on Tuesday, extending a series of unsuccessful attempts to breach resistance near $79,000—a level that has now rejected price advances three times across eight trading sessions. Bitcoin (BTC) Price The leading cryptocurrency changed hands at $76,923, representing a 24-hour decline of 2.4%. It had advanced to $79,399 during Monday’s session before surrendering gains throughout the remainder of the day. The broader top 10 cryptocurrencies mirrored Bitcoin’s downward trajectory. Ether decreased 3.7% to reach $2,290. Solana experienced a 3.9% pullback to $84.10. XRP retreated 3.2% to $1.39. BNB posted a 1.8% loss to $625. TRON and Dogecoin were the only assets maintaining positive momentum. What’s Behind the Bitcoin Move Market observers remain split on the underlying forces influencing current price dynamics. Galaxy Digital’s Mike Novogratz noted that US retail participants have re-entered the cryptocurrency space. He identified a convergence of retail enthusiasm, institutional capital flows, and constrained supply as fundamental drivers supporting additional upside potential. Santiment analytics reveal that large holders accumulated over 40,000 BTC during the previous two-week period. Market sentiment transitioned rapidly from fearful positioning to fear of missing out across that same timeframe. CryptoQuant...