Bitcoin avoids major volatility after the first of the week's two key US inflation reports, while a trader sees a "new upwards leg" coming for BTC price action.

Bitcoin briefly reclaimed $72,000 on ceasefire news, but fading momentum, resistance and macro risks leave traders questioning the strength of the breakout.

Bitcoin and risk-asset price action tried to brush off new US-Iran war rhetoric just hours before the deadline for a deal passed.