Bitcoin rose above $63,000 during the day, accompanying the recovery in risky assets after the Wall Street open on Thursday. The acceleration of purchases in US stocks also led to the unwinding of short positions in the cryptocurrency market.
Trump statements increased risk appetite in the market
BTC/USD parity increased by approximately 1.5% during the day and exceeded the level of 63 thousand dollars. US President Donald Trump’s statement that Iran wants to make a new agreement after the ceasefire was broken brought to the fore the expectation that geopolitical tensions might ease in the markets.
Donald Trump said that the Iranian side wants to make a deal, and this message strengthened the expectation in the markets that the tension may not escalate further.
There was an increase in the overall indices in the US stock markets. While this chart reversed some of the selling pressure seen in the previous session, crypto assets also joined the same trend. According to CoinGlass data, short position liquidations in the crypto market in the last 24 hours approached approximately $100 million. CoinGlass is widely known as a data platform that tracks liquidation data in derivative markets.
Mini dictionary: Short position liquidation is the forced closing of trades opened with the expectation of a price decrease when the market moves in the opposite direction. This may accelerate purchases and cause the price to rise more sharply in a short time.
Traders focused on critical levels for closing
Evaluating the latest outlook in the market, trader Killa states that the current structure does not appear bearish. Killa states that fluctuating price movements may continue for the next few months, and the $68,000 level can be monitored for a possible short position attempt.
Trader Daan Crypto Trades emphasizes that Bitcoin moved between $ 61.3 thousand and $ 64.7 thousand and recovered this morning after yesterday’s risk-off sales.
Another market commentator, Jelle, is of the opinion that buyers have not completely lost their power. Jelle thinks regaining the support zone is still on the table and bullish sentiment remains.
Daan Crypto Trades, on the other hand, highlights the level of 64.7 thousand dollars in terms of daily closing. According to traders, this level can be decisive in determining the short-term direction. Below, the 61.3 thousand dollar band stands out as the main range support.
| Indicator | Level |
|---|---|
| Featured price during the day | over 63 thousand dollars |
| Range support | $61.3 thousand |
| Level monitored for daily close | $64.7 thousand |
| Possible short position zone | 68 thousand dollars |
Opinions differ regarding the market’s search for a bottom
The consensus regarding the bottom formation in Bitcoin in a wider time frame has not yet been formed. While some analyzes point to the development of a classic bottom structure in the technical outlook, some market observers argue that comparisons with previous price cycles keep alive the possibility of a deeper macro bottom.
Therefore, despite the short-term recovery, investors’ focus is on both daily closing levels and whether the risk appetite will be permanent. Geopolitical headlines and the direction in the US markets are expected to continue to influence Bitcoin’s next step.
