Bitcoin is under renewed pressure after closing below $80,400, with traders turning more cautious on the short-term outlook. The report says BTC was rejected at the 200-day EMA, and that a bearish divergence had already weakened the setup. That combination has led some market watchers to brace for a deeper pullback toward $75,000 or even lower.
Political tensions remain part of the market backdrop
The article links part of the pressure in broader markets to rising geopolitical strain. Fars News Agency reported that, following an agreement on navigational protocols in the Strait of Hormuz, Chinese vessels had started transiting the passage. At the same time, no concrete step benefiting the US in the strait issue had emerged from China. Donald Trump, identified in the report as former US president, said China would not welcome changes to the strait’s status and that Beijing shared Washington’s view on the matter.
US-China talks delivered only limited announcements
According to the report, talks with China produced an order for 200 Boeing aircraft, while US agriculture and soybean agreements were also mentioned as moving ahead. Beyond those items, no major breakthrough was announced. As Trump left Beijing, he said relations with China would become “much stronger than before,” though the article notes that the real substance of that statement would need to emerge in the following days, especially with disputes involving Iran still unresolved.
The report also says Trump was open to the idea of halting Iran’s nuclear program for 20 years, but repeated after returning from China that real commitments were needed. Against that backdrop, the article says investors should not be surprised if major attacks on Iranian infrastructure take place in the coming week.
Analysts split as traders wait for confirmation
Analyst Jelle took a cautious view, arguing that a fresh local bottom had formed and that the chart looked far from constructive. After Bitcoin’s rally in the first half of May, he said a deeper correction may now be due. His wording was blunt: “Unless the bulls step up and push today, I am fairly certain we’ll see a retracement later in May.”
Trader_XO focused more on short-term positioning. In his view, compressed volatility in recent ranges has created trading setups for short-term participants, but direction remains unclear. He said he would wait to see whether price closes above or below the current and last week’s VWAP before taking action.
The report stops short of making a firm directional call. Still, its main takeaway is clear enough: after losing $80,400, Bitcoin traders are watching both macro risk and technical resistance, with the next move still waiting on confirmation.