Analyst: Bitcoin recovery depends on the US Iran agreement, and currently the on chain momentum is still weak According to Cointelegraph, analysts say that Bitcoin's recovery depends on the success of the US Iran peace agreement, and on chain data shows that despite recent rebounds, Bitcoin remains weak. LVRG Research Director Nick Ruck stated that despite Bitcoin's brief recovery of $67000, "momentum remains weak, with declining trading volume and stagnant on chain indicators indicating a lack of confidence in the rebound, which may quickly fade away. If the ceasefire agreement between the United States and Iran breaks down, Bitcoin will face a "volatility path", which may first gain buying interest as a hedge asset, and then be pushed to key support levels by broader risk aversion sentiment. Swissblock stated on Monday that the Bitcoin price momentum and OBV indicators are still in a state of "weak momentum and low participation", both of which are negative. The price momentum index is -1, and the OBV is -1.7 million, which is at a multi-year low.