BTC price action looked weaker after Sunday's weekly close below the 200-week MA, with Bitcoin market participants bracing for lower levels.

Bitcoin moved back above $71,000 after US President Donald Trump postponed Iran strike for five days, sending oil price crashing below $100.

Technical indicators hint at a possible reversal in BTC’s relative performance, as traders watch whether key support levels can hold.

Bitcoin bull market optimism has suffered since the October crash, as chances of an extended BTC price drop below $55,000 increase.