Bitcoin slipped below $77,000 today, driven by rising oil prices and growing uncertainty around stalled U.S.-Iran peace talks. As of April 28, 2026, negotiations between the two countries remain frozen, with no new agreement in sight despite a fragile ceasefire and earlier failed direct talks. This has rattled global markets, pushing Bitcoin lower while oil prices spike.
Oil Prices Rise as U.S. Rejects Iran’s Latest Proposal
On April 27, Iran reportedly sent a new proposal through Pakistani mediators, aiming to ease tensions. The offer included reopening the Strait of Hormuz and lifting the U.S. blockade, while also seeking to delay nuclear negotiations until a later stage. However, according to CNN, President Donald Trump and his administration rejected the proposal, insisting that Iran must make stronger nuclear concessions first. The U.S. had already canceled a planned delegation trip to Islamabad after viewing Iran’s earlier terms as inadequate, with travel security concerns also playing a role. Direct talks remain frozen, though indirect communication through mediators has continued.
Oil markets reacted sharply. West Texas Intermediate (WTI) crude rose from $98 per barrel to a high of $104 before settling at $101 at press time. Even after a slight pullback, WTI remains up 2.51% for the day and 4.09% for the week, following a 12.74% surge the previous week.
Bitcoin Loses Key Support Level
Bitcoin’s response was predictable. After climbing above $79,000 earlier this week, the asset reversed and has continued to fall. It dropped below $77,000 today for the first time since April 22, when it had reclaimed that level during its latest rally. The $77,000 zone has been a critical support level in Bitcoin’s recent market structure. It first lost this level in early February and stayed below it for an extended period amid bearish pressure.
On April 17, Bitcoin attempted to retest $77,000 but failed. A successful breakout on April 22 briefly restored bullish momentum, but the latest pullback has now erased those gains. Technical indicators also suggest increasing weakness: the MACD histogram has turned red, signaling fading bullish momentum. Bitcoin fell 2% today after dropping 1.64% yesterday.
At present, Bitcoin trades at $76,195, with immediate support near the middle Bollinger Band at $75,497. While it recently bounced from that level, its failure to reclaim $77,000 raises concerns. To rebuild upward momentum, Bitcoin would need to break back above $77,000 and then push through the upper Bollinger Band at $79,869.
