• Bitcoin struggles around $59,500 on Tuesday after a massive two-week correction.
• Institutional sell-off persists as spot ETFs record $231.10 million in outflows on Monday, extending the negative streak.
• Investors remain cautious as the US and Iran offer different signals over whether their delegations will hold direct peace talks in Qatar.

Bitcoin (BTC) struggles around $59,500 at the time of writing on Tuesday after suffering a steep correction over the past two weeks. Institutional selling continues with spot Exchange Traded Funds (ETFs) recording an outflow of $231.10 million on Monday, extending their recent streak of withdrawals. Meanwhile, traders remain cautious as the US and Iran send mixed signals about whether their delegations will hold direct peace talks in Doha, Qatar. The outcome of this could influence global risk sentiment and shape Crypto King’s near-term price direction.

Institutional selling remains robust

Institutional demand began the week on a negative note. SoSoValue data show that spot BTC ETFs recorded an outflow of $231.10 million on Monday, following a $1.70 billion outflow the previous week, the highest weekly outflow since the end of February.  If this outflow trend continues this week, BTC could see further correction.

US-Iran Doha talks in doubt

Geopolitical uncertainty remains elevated after mixed signals emerged over potential US-Iran peace talks in Doha. US President Donald Trump wrote on Truth Social that Iran had requested a meeting, and that it will take place in Qatar’s capital, Doha, on Tuesday.

Moments ​later, Trump’s press secretary, Karoline Leavitt, said, “Special Envoy Witkoff and Jared Kushner ​will be flying to Doha for high-level meetings this week.”

While Iran is sending its technical delegation to Qatar this week, Foreign Ministry spokesperson Esmaeil Baghaei said this had “no relation” to the Americans’ visit and no talks between the two sides were scheduled.

“We will not have any negotiation meetings at any level with the American side in the coming days,” Baghaei ​said.

These developments highlight the fragile state of the recent ceasefire agreement. Any breakdown in talks or renewed military escalation between the two countries could weaken risk appetite, potentially triggering a fresh sell-off in BTC.

Bitcoin Price Forecast: BTC struggles around $59,500

Bitcoin price trades at $59,330 on Tuesday, maintaining a bearish near-term tone as it holds well below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), clustered between roughly $66,700 and $76,500. The Relative Strength Index (RSI) sits just above oversold territory near 31 on the daily chart, hinting at weak but stabilizing downside pressure. At the same time, the Moving Average Convergence Divergence (MACD) hovers marginally below the zero line, indicating fading bearish momentum rather than a decisive bullish shift.

On the topside, initial resistance emerges at the horizontal level around $64,004, ahead of the 50-day EMA at $66,677 and the 100-day EMA near $70,373, which together define a dense supply band that could cap any recovery attempts. Above these, the 200-day EMA at $76,456 reinforces the broader bearish structure, with a higher horizontal barrier at $84,410 marking a more distant resistance zone that would need to be reclaimed to challenge the prevailing downtrend. 

The absence of nearby defined support leaves BTC vulnerable to further downside probes if selling pressure resumes.

(The technical analysis of this story was written with the help of an AI tool.)