ChainCatcher News: Bitcoin surged to around $71,000 during the U.S. trading session on Wednesday before pulling back. On Thursday during Asian hours, it was around $68,600, failing to hold above a key round number. Since the end of February, BTC has mostly traded within a range, having dipped to $62,500 earlier this month and reaching a high of $71,100 on February 15.
Market analysts note that in January, Bitcoin briefly broke above a similar trading range but then quickly fell from $98,000 to $60,000. During this downward cycle, it formed lower highs, causing some traders to remain cautious about the sustainability of recent breakouts. Derivatives data shows that open interest (OI) in crypto futures has increased by over 6.6%, approaching $100 billion, outpacing overall market cap growth and indicating new capital inflows.
In the options market, Deribit data shows that Bitcoin’s rebound has increased demand for call options with strike prices between $85,000 and $90,000. However, the overall options structure remains skewed toward downside protection, with $60,000 put options being the most popular, with open interest exceeding $1.4 billion, suggesting market participants still harbor some downside risk concerns.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Michael Saylor’s Strategy Adds $1.57B in Bitcoin, Treasury Swells to 761K BTC
Strategy announced on Monday that it bought another large tranche of Bitcoin, adding 22,337 BTC, a purchase the company says cost roughly $1.57 billion at an average of about $70,194 per coin, pushing its total holdings to 761,068 BTC. The disclosure, filed as a Form 8-K and shared in a company
BlockChainReporterJust Now
Strategy Buys $1.57B Bitcoin as Holdings Top 761,068 BTC, BTC Above $74K Rally
Strategy expanded its Bitcoin reserves again after executing another large weekly purchase. The move extended the firm’s aggressive accumulation strategy and pushed total holdings above 760,000 coins. Meanwhile, the purchase came as Bitcoin traded above $74,000 during the latest market rally.
Strat
CryptoBreaking4m ago
Bitcoin Hits $69K Triggering $192M Liquidations As Traders Eye Next Move
_Bitcoin moved to $69K liquidated $103M in short positions within a $192M total market wipeout._
_Key liquidity clusters now sit between $66K–$69K and $71K–$74K creating a balanced market setup._
_Traders monitor whether BTC holds above $69K or targets lower liquidity near $66K._
Bitcoi
LiveBTCNews1h ago
Institutional Bitcoin Accumulation Continues with $767M Weekly ETF Inflows
Gate News bot message, Spot Bitcoin ETFs recorded $767.33 million in net inflows last week, representing the third consecutive week of institutional inflows. BlackRock led with $600.1 million in inflows, followed by Fidelity with $147.5 million and VanEck with $14.4 million.
Concurrently, MicroStr
GateNews1h ago
