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A $606K U.S. Bitcoin transfer tied to the 2016 Bitfinex hack sparked sale fears, despite its small size and a court order to return the funds.
Following the proposal from Iran to reopen the Strait of Hormuz, bitcoin experienced a volatile session, briefly surging to nearly $79,500 before retreating to $77,500 early Monday. Key Takeaways: Bitcoin hit $79,490 on April 27 before a sharp retreat following news of a proposed U.S.-Iran ceasefire. Market volatility exceeding 2.63% saw Coinglass report $56.
Capriole Investments founder Charles Edwards says Bitcoin may be positioned for a sharp upside repricing if the network shows tangible progress on post-quantum security. Speaking on Bitcoin Suisse AG's podcast with Dominic Weibel and Luca Gnos, Edwards argued that Bitcoin's recent underperformance, weak sentiment and institutional hesitation suggest quantum risk may already be partly reflected in the market.
Those calling for shorts too early are helping push prices higher, and their liquidations will finance the setup for the larger move down.
Bitcoin is heading into a rare macro window where the first reaction may age fast. The Federal Reserve is scheduled to conclude its April meeting on April 29, with the FOMC decision and press conference landing that afternoon.
Bitcoin rejected $80K after $1.35B in sell pressure, while analysts said negative funding may support a later squeeze.
Bitcoin surged to $79,399 in overnight trading before encountering resistance and retreating during Monday's Asian session. The digital asset stabilized near $77,705, representing a modest 0.4% decline over the previous 24-hour period.
U.S. stocks hit fresh record highs while Bitcoin remains about 40% below its peak, fueling debate over whether BTC is lagging or this cycle is different.
The crypto market starts the week with strength and renewed bullish momentum, led by the Bitcoin price hitting $79,000. Besides, the Ethereum price is also pushing higher, heading to $2,400. The total market cap climbed to $2.64 trillion and has settled around $2.60 trillion.
The crypto market entered the week under pressure as investors prepared for several major U.S. economic events that could influence Bitcoin, altcoins, and broader risk sentiment. Total crypto market capitalization fell 0.5% to $2.59 trillion on Monday, while Bitcoin traded near $77,800.
Influential Wall Street investor Jordi Visser urged investors on Saturday to assess their outlook on the fiat system and adjust portfolios accordingly, favoring assets like Bitcoin (CRYPTO: BTC). Pace Of Innovation Increasing, Says Visser During an interview with entrepreneur and investor Anthony Pompliano, Visser stated that the pace of innovation is accelerating, with each year equating to a decade of progress.