Bitcoin pulls back from 12-week high as Iran rally hits seller wall at $79,400

What to know : Bitcoin briefly hit a 12-week high near $79,400 before reversing in Asian trading, marking a third failed attempt to clear the $79,000 level in eight sessions. Analysts say the $80,000 area is a key breakeven zone for recent buyers, creating selling pressure even as bitcoin is up 16 percent in April and seeing strong institutional accumulation. Traders are watching this week’s Federal Reserve and European Central Bank decisions, along with megacap tech earnings, for a potential catalyst to push bitcoin out of its current range.