Bitcoin Pulls Back Below $115K as Geopolitical Developments Unfold
Bitcoin (BTC) fell below $115,000 on Tuesday, marking a ~6% decline from last week’s all-time high of $124,474. The pullback comes amid geopolitical headlines and ongoing institutional accumulation.
Geopolitical Context
Former U.S. President Trump is reportedly working to organize trilateral peace talks between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy.
The announcement followed Trump’s meeting with Putin in Alaska last Friday and subsequent discussions with Zelenskyy and European leaders in Washington on Monday.
A potential diplomatic breakthrough could improve broader risk sentiment, which may indirectly influence Bitcoin’s trajectory.
Institutional Activity
Despite the correction, corporate treasuries remain active buyers. On Monday, firms including Metaplanet and Strategy collectively acquired 1,185 BTC at current levels, underscoring continued long-term conviction in the asset.
Market Outlook
Key Levels: Bitcoin is now trading below an ascending trendline established since early April and sits near its 50-day EMA at $115,046.
Downside Risk: A daily close below $115,000 could open the door to a deeper correction toward $111,980.
Upside Potential: Should BTC hold the 50-day EMA and reclaim $116,000, a rebound toward the $120,000 psychological level is plausible.
Analyst View: QCP analysts expect sideways trading in the near term, with dips toward $112,000 attracting buyers and rallies near $120,000 meeting resistance—at least until Fed Chair Powell’s upcoming speech on Friday provides further macro direction.
