Coinspeaker

18 hour ago

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BULLISH 📈 : Crypto Market Recovers $100B, Bitcoin Price Rises Amid Easing Tensions

The crypto market is recovering after a liquidity-driven crash over the weekend.

• Bitcoin price increased by 4%, reaching $78,456.
• Top altcoins, led by Ethereum, gained between 4-5%.

Market Dynamics

• The market added over $100 billion to its cap in the last 24 hours following significant selling pressure.
• Total liquidations amounted to $324 million, with $231 million from short positions.
• A US-India trade deal, which reduces tariffs on India from 50% to 18%, and easing US-Iran tensions contribute to the positive outlook.

Bitcoin Price Analysis

• Bitcoin's relief recovery has it trading at $78,701 after dropping to $75,000.
• BTC is below key moving averages, indicating weak momentum.
• Bullish scenario: A higher low around $75,000 could maintain the uptrend, with a potential rise above $100,400.
• Bearish scenario: Breaking below April 2025 lows could push Bitcoin toward the $50,000-$60,000 range.

The overall market direction hinges on Bitcoin maintaining $75,000 on weekly closes.