Bitcoin risks drop below $76K as 7% oil slide fails to spark BTC price rally

Bitcoin (BTC) returned below $77,000 after Monday’s Wall Street open as crypto shrugged off hopes of a US-Iran peace deal.Key points:Bitcoin fell below $78,000 as WTI crude oil hit $95.15 per barrel, its lowest since Oct. 15.Gold extended daily gains to 2%, recovering from 13-month lows of $3,891 per troy ounce after a US stock sell-off on the back of tech earnings data.BTC price action failed to break beyond $78,500, analysis by Rekt Capital warned, opening the door to levels below $76,000 next.Bitcoin falls as earnings, US midterms overshadow Iran war hopesData from TradingView showed BTC/USD extending daily losses to 1.7% after reaching a local high of $78,750 after Sunday’s weekly close.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewComments on Iran from US Secretary of State Marco Rubio sparked a sharp retreat in oil prices as markets priced in higher odds of a non-military resolution. Previously, President Donald Trump had suggested that military strikes could return around the US midterm elections on Tuesday.Speaking to reporters, Rubio said Trump would like to end the conflict “diplomatically.” “He hasn’t made a decision… what the president expresses to you is inc...