Bitcoin started the week with renewed momentum, climbing as high as $82,458 late Sunday before pulling back. Despite the retreat, the asset continued to hold above $81,500 at the time of writing and appeared to be testing resistance near $82,000 once again. Intraday trading showed bitcoin opening just below $80,700, rising to $81,250, dropping sharply to $80,536, and then rebounding above $81,840.
Liquidations intensify market swings
The price action remained relatively resilient on a percentage basis, but leveraged traders faced notable damage. Over the past 24 hours, about $135 million in bitcoin leveraged positions were liquidated, with $88 million of that total coming from longs. Even with the volatility, bitcoin was still up 0.3% over 24 hours and less than 2% over the past week, lifting its market capitalization to roughly $1.64 trillion.
Geopolitical tension and oil risks weigh on sentiment
Broader market sentiment was also pressured by rising Middle East tensions. According to the report, U.S. President Donald Trump rejected Iran’s latest peace proposal, undermining hopes for a diplomatic breakthrough and prompting a more cautious tone across global markets. At the same time, Brent crude reportedly climbed to $105 per barrel, adding to concerns about the economic fallout from a prolonged regional conflict.
Saudi Aramco CEO Amin Nasser warned that if shipping disruptions through the Strait of Hormuz continue, the oil market may not rebalance quickly. He said that even if the waterway reopened immediately, normalization could take months, and if delays stretch for several more weeks, full rebalancing may not occur until 2027. Against this backdrop, bitcoin’s ability to hold key support remains notable, but its near-term direction is still closely tied to macro risk appetite and developments in energy markets.