Analysis: BTC has not quickly surged to $80,000, and after the slowdown in gold's upward trend, funds may return to the cryptocurrency market
According to market news, btc-42">bitcoin-btc-42">Bitcoin is currently fluctuating above $72,000, while Ethereum has seen a slight increase. The market has entered a consolidation phase after the previous breakout. Although Bitcoin has successfully stabilized above the $70,000 level, which has been a resistance point multiple times, it has not yet shown the expected rapid advance towards $80,000.
Expectations of easing tensions in the Middle East have boosted risk assets. If there are disruptions in the Strait of Hormuz that drive up inflation, the Federal Reserve may be forced to maintain a tighter interest rate policy. Derivatives data shows that bullish sentiment remains moderately strong, with Bitcoin futures open interest (OI) rising to about 680,000 BTC, reaching a nearly two-week high, while open interest in gold-linked tokens XAUT and tether-usdt-257">USDT">PAXG futures continues to decline, indicating that some funds may be flowing back into mainstream crypto assets after the slowdown in gold's upward momentum.
In the options market, demand for high strike call options has increased, and the 30-day implied volatility remains stable overall, reflecting relatively calm market sentiment.
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