Bitcoin (BTC) is trying to steady itself after a shaky start to the week. After dipping briefly toward the key $70,000 support level on Sunday, BTC has since bounced back and is now trading above $72,000 on Monday.
However, the next move may depend less on internal crypto dynamics and more on the escalating geopolitical backdrop of tensions between the United States and Iran, and the events that unfold in the days ahead.
$100,000 Bitcoin By Year-EndIn Daodu’s bullish scenario, a full peace deal would shift the outlook for both geopolitics and commodities. He suggests oil prices would retreat back toward pre-war levels, roughly in the $65 to $70 per barrel range.
Daodu says that if that happens, Bitcoin could push toward $100,000 by year-end, which would translate to a 39% price increase from current trading levels.
The base case is more cautious and revolves around what could happen around April 15. Daodu’s view is that if the talks scheduled for that period lead to a new agreement, oil prices might drop below $95 again, similar to what happened after the first ceasefire was announced last week.
Daodu also points to a specific positioning factor: there are reportedly about $6 billion in short positions between $72,200 and $73,500 right now. If oil prices fall quickly and risk sentiment improves fast, those short positions could unwind, triggering a squeeze. That could help drive Bitcoin higher between $75,000 to $80,000.
Bear Path For BTCThe bearish scenario centers on the ceasefire failing—either because it breaks apart completely or because it expires without a workable outcome.
Daodu notes that the two-week ceasefire is already under strain. With talks having collapsed and a blockade being announced, the agreement is described as “hanging by a thread.”
If negotiations fail and oil prices rise above $110 to $120, Daodu says Bitcoin would likely lose the $70,000 support level. From there, the downside path could accelerate, with BTC potentially sliding toward $65,000. If the crisis drags on, he adds that prices could fall further toward $55,000 to $60,000.
Even with these three paths laid out, Daodu’s conclusion is that the base prediction is the most realistic outcome at the moment. In his assessment, Bitcoin is likely to remain range-bound until the next round of talks produces something tangible.
Featured image from OpenArt, chart from TradingView.com
