Bitcoin Price Eyes New Highs Amid US-Iran War Tensions

Bitcoin's price is expected to reach new highs this week, despite the ongoing US-Iran war tensions. Analysts predict that the cryptocurrency will continue to trade in a range with an $80,000 ceiling, but the outcome of the conflict could impact its performance.

The Elliott Wave analysis concludes that $81,000 is Bitcoin's next 'final boss,' and reaching this level would confirm the breakout for bulls. However, the US-Iran war threatens to unravel last week's crypto and risk-asset gains, which could lead to a decline in prices.

The true market mean metric suggests that the current bear market remains mild, but it is still early to determine its outcome. The metric filters out long-dormant or lost coins to provide a more accurate picture of cost basis for the active BTC supply.