finance
Bitcoin Reaches $79,399 High Before 4% Decline in Asian Trading on April 27, 2026
Bitcoin reached a 12-week high of $79,399 on April 27, 2026, before reversing during Asian trading hours, marking the third such pullback near $79,000 in eight sessions. The movement coincided with broader market gains in Asia and a new Iranian proposal to the U.S. on the Strait of Hormuz. Other cryptocurrencies like Ether and Solana also declined amid upcoming central bank decisions.
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Bitcoin climbed to a 12-week high of $79,399 around 09:00 IST on April 27, 2026, before pulling back during Asian trading, marking the third reversal at around the $79,000 level in eight trading sessions. The rally had lifted Bitcoin to its highest level since January 31, 2026, but it unwound by mid-morning Singapore time.
Ether slipped 2.4% to $2,329, Solana fell 1.9% to $86, and BNB declined 1.2% to $630. The push higher came on a report that a country offered a new proposal to the U.S. to reopen the Strait of Hormuz, with nuclear talks delayed until after the U.S. naval blockade is lifted.
Asian equities ran with it. The MSCI Asia Pacific Index rose 1.7%, the emerging markets index hit a record, and Taiwan Semiconductor Manufacturing surged 6% to its own record. Brent crude pared earlier 2.5% gains to up 1% at $106.50 a barrel.
Bitcoin briefly traded along with the risk-on move and then peeled away. The rejection at $79,399 has a clean technical explanation. An analyst said $80,000 is where many recent buyers are approaching breakeven, which historically produces selling pressure as those traders rotate out of positions they were underwater on for weeks.
Bitcoin is up 16% in April, on pace for its first double-digit monthly gain since May 2025. An investment firm bought $3.9 billion of bitcoin this month, according to Bloomberg, the firm's largest monthly accumulation in a year. Funding rates on perpetual futures across major exchanges remain negative on a 7-day basis at -0.13% per Coinglass, meaning shorts are still paying longs to hold positions, which is the structural setup that produces a squeeze if spot can hold above the $79,000 level that has now been rejected three times.
