Bitcoin continued its rise, reaching $67,000, as the ceasefire agreement between the United States and Iran supported the rally in risk assets. However, disagreements persist over the short-term direction of the market.
Renowned crypto analyst il Capo de Crypto said that Bitcoin has regained the $65,000 level and the next critical zone is the $69,000 to $70,000 range. The analyst commented: “$65,000 has been reclaimed. The next key level to regain is $69,000-$70,000.”
According to market data, Bitcoin continued its upward trend on Monday as US stock markets opened, gaining around 1.5% on a daily basis. Progress in the U.S.-Iran peace process and lower oil prices also led to increases of about 2 to 2.4 percent in the S&P 500 and Nasdaq indexes.
Traders note that Bitcoin’s current move is driven more by liquidity than a strong buying trend. Some analysts suggest that BTC could face near-term selling pressure in the $67,000 region, a critical zone with high liquidity.
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Order book data indicates that market depth remains low. This makes the price of Bitcoin vulnerable to rapid fluctuations in upward and downward movements. Derivatives market data also reveals that the intense short sell-off when US stock markets open increases volatility.
According to Glassnode data, a high concentration of open positions has formed in the options market around $65,000. Hedging activities by market makers near this level could have a favorable effect on the price in the short term and help stabilize the market structure.
However, some traders remain cautious about the sustainability of the current recovery. They say the recent rise should be seen as a “replenishment of liquidity” rather than a clear confirmation of a bottom. Therefore, Bitcoin is expected to continue its volatility in the coming period and test the market with possible pullbacks.
*This does not constitute investment advice.
