Bitcoin Faces Selling Pressure Below $78,500 as It Tests Critical Support

Global markets are reacting to oil prices surging above $111 per barrel amid reports of a U.S. naval blockade, with pressure mounting as peace talks between the U.S. and Iran have stalled. In the crypto space, Bitcoin is struggling to hold the $77,000 level ahead of the FOMC meeting, following a drop below the $78,500 resistance zone. This volatility has expanded beyond BTC, significantly impacting other major assets including ETH and XRP. Investors are closely weighing the breakdown in diplomatic efforts against global risk appetite and liquidity flows. While the Fed's rate decision remains a primary focus, the $75,500 support floor is now a critical pivot for the broader digital asset market. The convergence of stalled diplomacy and monetary policy continues to drive heightened market uncertainty.