Bitcoin Holds Near $66,700, Eyes First Monthly Gain Since September
-
Bitcoin (BTC-USD) is attempting to steady after months of sustained pressure, holding near $66,700 as March comes to a close and positioning for what could be its first monthly gain since September. The price action follows a five-month slide that wiped more than 40% off its value, but sentiment appears to be shifting as President Donald Trump signals he is weighing an end to the US military campaign against Iran. That shift in geopolitical tone has started to ripple across markets, with S&P 500 futures reversing earlier losses to trade up around 1%, suggesting investors may be reassessing worst-case energy disruption scenarios tied to the Strait of Hormuz.
Across crypto, the response has been constructive but measured, with Ether rising as much as 3.3% while Solana and XRP gained up to 2.2% and 1.5%, respectively. Market participants appear increasingly focused on the possibility that the conflict could end sooner than expected without reopening the Strait, a dynamic that could be helping Bitcoin remain anchored near the $68,000 range. At the same time, technical signals remain mixed, with the token still trading below its 50-day moving average even as it continues to bounce along an upward support line formed over the past two months.
Positioning data suggests investors are not abandoning caution. Deribit shows more than $1.5 billion in put options clustered at the $60,000 level, reflecting ongoing demand for downside protection, although some expect that hedging activity could ease in the coming weeks. Still, Bitcoin's relative resilience stands out, particularly as gold has dropped more than 13% this month while the cryptocurrency has gained roughly 2%. According to Glassnode, easing sell-side pressure and stabilizing flows may be laying the groundwork for a potential recovery, though stronger demand would likely be required to confirm any sustained shift in trend.
source: https://www.tradingview.com/news/gurufocus:136f8e932094b:0-bitcoin-holds-near-66-700-eyes-first-monthly-gain-since-september/
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Registrer Logg inn