Author
Ahmed Barakat
Author
Share it
Facts Checked by
CryptoNews Editorial Team
Author
Bitcoin price fell to $79,679 on Friday as the US military’s attack on Iranian ships in the Strait of Hormuz sparked alarming forecasts, but the world’s largest crypto remains on track for a sixth straight weekly gain.
The 1.7% intraday drop looks scary on the surface, but the weekly chart tells a calmer story. What happens over the weekend will determine whether BTC returns to $85,000 or returns for the rest of the week.
Immediate support: The US military retreated against Iran following the attack on three American warships transiting Hormuz, which caused widespread confusion in which markets fell sharply.
Adding to the pressure, Strategy Inc (NASDAQ: MSTR ), which owns Bitcoin, has indicated that it may sell its shares to raise cash for dividend payments, although the amount and timing are unclear.
Despite the intraday weakness, BTC is still around 3% for the week. Big starts, institutional growth, improving US regulatory clarity, and the remaining post-ATH consolidation, remain strong over the weekend.
Note: The best crypto to change your profile
Bitcoin Price Prediction: Can BTC Price Retrace $85,000 Before Closing Week?
Bitcoin is trading in one of the most important areas of this trend, hovering around $80K as pressure builds between major support and resistance.
A larger setup remains encouraging, but as long as $79K continues to be the daily starting point. That standard is currently working on cargo.
As long as buyers protect themselves, the post-correction recovery remains, with $83K–$85K still serving as a key target and defining a place to bounce back after the sharp pullback in October.
On-chain content continues to show accumulation rather than over-distribution, which suggests that major players are continuing to use their current resources instead of leaving.
Further resistance remains important, and Bitcoin needs a bit of a break above the $83K–$85K zone before any resistance becomes credible.
Until now, the market has been stable. If BTC maintains this pattern, the path to a strong advance remains open, but the loss of $75K will weaken the setup and move to the long-term trend of $69K as the next support level.
More coverage is needed here as well, especially as the low tide over the weekend increases the chance of exaggerated movement in either direction.
The real truth is that Bitcoin still looks stronger than weak, but this is a reasonable setup where support should hold.
Note: The best deals before the sale starts
