Bitcoin holds near $75,000 as short-term holders look for profit opportunities
Bitcoin is hovering near $75,000 as steady institutional demand meets a wall of supply, while the options market is biased toward downside hedges.
What to know:
- Bitcoin is hovering near $75,000 as steady institutional demand meets a wall of supply.
- Derivatives data show rising open interest and subdued liquidations alongside low implied volatility, suggesting traders are quietly adding exposure while remaining cautious, with options markets still biased toward downside hedges.
- Decentralized exchange aggregator CoW Swap suffered a DNS hijacking on April 14 that redirected users to a malicious clone site and drained at least $1 million from wallets.
The increases come alongside a softer U.S. dollar, which slipped to a near six-week low, and easing Treasury yields, conditions that often support crypto prices by lowering the relative appeal of holding cash. Gold also gained, pointing to a market balancing risk appetite with hedging demand.
Still, the backdrop remains tense. The U.S. blockade of Iranian ports and Iran’s threats to disrupt shipping routes in the Persian Gulf and nearby waterways continue to cloud the outlook for the global economy.
Energy supply shocks have already begun feeding into inflation expectations, a factor that could shift central bank policy and ripple into crypto markets.
Onchain data also show bitcoin supply tends to appear when prices reach key cost-basis levels for short-term holders. That’s around $76,800, a level that could act as resistance as investors cash out when breaking even.
