Bitcoin's price experienced volatility, dropping to $80,000 after reaching a high of $82,700 amid optimism regarding a potential deal between the US and Iran. This optimism, which eased concerns over global energy markets, was further supported by a weaker U.S. dollar. However, doubts arose following comments from President Trump, leading to a pullback in Bitcoin's price, which was trading at $80,922. In the past 24 hours, Bitcoin and Ethereum saw declines of 0.5% and 2%, respectively. Notably, a sharp short squeeze resulted in over $242 million in bearish liquidations. Analysts suggest that Bitcoin must maintain a price above $80,500 to keep its momentum, while upcoming U.S. jobless claims data could influence market direction. The overall cryptocurrency market capitalization fell by 0.7% to $2.68 trillion. Bitcoin's dominance rose to 61%, the highest since November 2025, indicating a concentration of capital in Bitcoin as investors remain cautious and prioritize risk management.