Virtual asset prices, which had gained on expectations of a cease-fire deal between the United States and Iran, are trading flat.
As of 7:50 a.m. on the 7th, on the virtual asset market tracking site CoinMarketCap, bitcoin was at $81,262, up 0.27% from 24 hours earlier. Bitcoin at one point the previous day rose to as high as $82,800, showing strength, but then edged lower.
The market points to $84,000 as a psychological resistance level for bitcoin. A large sell wall is clustered around $84,000, and the view is that the rally can continue only if it breaks through that level. Ahead of that, bitcoin's price is showing signs of stalling, according to market analysis.
Other virtual assets are showing a similar pattern. Ethereum, the No. 2 by market capitalization, is down 0.67% from 24 hours earlier at $2,345. Ripple is up 0.78% at $1.42, and Binance Holdings Ltd. is up 0.78% at $646.9, respectively.