Bitcoin and global markets rallied after the US and Iran announced a ceasefire, but data show BTC bears have not closed most of their positions yet.
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Bitcoin and global markets rallied after the US and Iran announced a ceasefire, but data show BTC bears have not closed most of their positions yet.
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Bitcoin’s relief rally is facing selling pressure near $72,000, but technical charts suggest a bullish bias. Will altcoins follow in BTC’s footsteps?
Bitcoin gained momentum as data showed buyers are starting to dominate volumes on Binance, with a $90,000 BTC price target on their radar.
Bitcoin buy-side activity in the spot and futures markets supports the current rally toward $72,000, while short-term holders eased up on selling, increasing the chances of bulls taking control of BTC’s price direction.
Empty tankers will reportedly be permitted to pass through the waterway under the US-Iran deal, but certain ships will need to pay a tariff of $1 per barrel of oil in Bitcoin.
Bitcoin bulls failed to stay above $72,000 for long as BTC price action already began to discount the impact of a US-Iran ceasefire agreement.
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