Bitcoin Price Drops After Trump Cancels Iran Trip Talks

The price of Bitcoin (BTC) experienced a significant drop below $78,000 after US President Donald Trump canceled a trip to Pakistan for Iran peace talks. This development had an impact on the cryptocurrency's market performance, with trading volume declining by around 40% to $18 billion within a 24-hour period.

Despite this decline, Bitcoin remains up around 10% over the past month, indicating that it has maintained its upward momentum. Crypto analysts believe that as long as BTC holds above its support zone of $76,000-$77,000, it could make another move towards $80,000.