Options data shows traders are bracing for a sharp bitcoin drop as weak demand and fragile positioning leave the market exposed to a break below key levels, a report from Bitfinex shows.
Bitcoin faces a CME gap near $67,500 and a third trendline rejection, leaving traders watching for the next short term move.
Bitcoin smashed through $70,000 Wednesday morning. The world's biggest cryptocurrency hit $70,271 before pulling back to around $69,300, marking its strongest surge in weeks as geopolitical chaos gripped markets worldwide.
Bitcoin neared $70K Monday as traders bet on a proposed U.S.-Iran ceasefire, lifting Ethereum, Solana and XRP despite Tehran rejecting the plan.
As Bitcoin (CRYPTO: BTC) moves closer to $70,000, a fresh scarcity narrative is gaining traction. Bitcoin The ‘Key Scarcity Asset' Anthony Pompliano, CEO of Professional Capital Management, on April 4 described Bitcoin as a key "scarcity asset.
Bitcoin broke through $70,000 Monday morning, touching $70,355 as Iran rejected Washington's latest ceasefire proposal and geopolitical tensions spiked across the region. The surge came alongside news that MicroStrategy, Michael Saylor's enterprise software company, grabbed another 4,871 bitcoins for $329.9 million in what's become the firm's signature aggressive accumulation strategy.
Bloomberg commodity analyst Mike McGlone stands by his $10,000 Bitcoin (CRYPTO: BTC) prediction despite pushback from analysts who called the forecast “rage bait,” arguing the math doesn't work unless holders believe the asset will fail. The $10,000 Call McGlone bases his prediction on normal mean reversion patterns seen in commodities.
Bitcoin futures open interest jumped 8% in a day as BTC rose 3.6% near $69.7K, signaling fresh leverage and renewed speculative appetite.
Bitcoin climbed above $70,200 on Monday for the first time since March 25, as a report that the US and Iran are negotiating a 45-day ceasefire sent risk assets sharply higher across global markets.
Despite mounting geopolitical tensions in the Middle East, bitcoin reclaimed the $70,000 mark on Monday, supported by Strategy's latest acquisition of 4,871 bitcoins. Key Takeaways: Bitcoin hit $70,355 on April 6, keeping market cap near $1.4T despite Iran rejecting U.S. ceasefire. Strategy CEO Michael Saylor bought 4,871 BTC worth $329.9M, reinforcing institutional demand.
Bitcoin price prediction highlights a massive shift in momentum as the week begins with a potential high-conviction “short squeeze” if the $70,000 psychological barrier is broken.
Binance faces renewed questions over its $4.3b post-plea cleanup as crime-monitoring staff depart and chief compliance officer Noah Perlman weighs an exit. Bitcoin (BTC) futures traders added more than $3.