Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BTC Bitcoin continues Wall Street opening rally, near seven-week high
Bitcoin continued its upward trend at the opening of Wall Street on Tuesday, and the cryptocurrency rose in line with the resilience shown by the U.S. stock market.
BTC approaches seven-week high
BTC/USD climbed to near US$67000, hitting its highest level in nearly seven weeks. TradingView data captured this steady upward trend, with both cryptocurrency and stock markets showing upward momentum despite the challenging global situation. TradingView is a global online platform that provides real-time financial market data and charting tools for analyzing cryptocurrencies, stocks and other assets.
The rise came against the backdrop of major geopolitical and economic news. The conflict between the United States and Iran continues to escalate, with reports that Iranian troops attacked U.S. facilities in Bahrain in retaliation for the U.S. strike. At the same time, the Strait of Hormuz, crucial for oil transportation, remains closed, affecting global energy markets.
The impact of these developments was also reflected in commodities, with West Texas Intermediate crude oil (WTI) rising to above US$85 a barrel, setting a new high in more than a month.
At the same time, it is reported that U.S. President Trump plans to introduce a new 10% international trade tariff after implementing a 50% tariff on Canadian imports earlier this week. These economic policies pose potential resistance to risky assets, including cryptocurrencies. However, traders and analysts believe market participants are largely unwavering and expect the market to eventually absorb or adapt to the news.
Market Reactions and Moods
Observers attribute the lack of negative reactions to cryptocurrencies and the stock market to widespread market expectations that conflicts and policy decisions will be resolved in a direction beneficial to the market. Crypto Rover, a well-known YouTube analyst with a large number of fans, said that despite the escalating headlines,"the market is pricing peace."
Caleb Franzen, founder of macro research firm Cubic Analytics, expressed confidence in the direction of the S & P 500. He said he had "no fears, worries or worries" about S & P 500 futures, a sign of widespread optimism among some investors. However, senior figures in the traditional financial system issued warnings. Jamie Dimon, CEO of investment banking giant JPMorgan Chase, warned that market participants may be underestimating current geopolitical and economic risks and urged a more cautious approach.
Analysts focus on key resistance levels
While some traders sought to break through the $70000 level, others showed caution. Keith Alan, co-founder of market analysis tool provider Material Indicators, has suppressed optimism about Bitcoin's trend. He warned that despite recent "golden cross" signals involving simple 21-day and 50-day moving averages,"bear market" conditions still exist, especially when viewed over a longer time frame. Alan emphasized that Bitcoin's 21-week simple moving average is at $69720, which is in line with the all-time high set in 2021. He pointed out that in the current market pattern,"bear markets don't always look like bear markets, especially in lower time frames." Alan also noted that there was no "real resistance" ahead of the $67250 region, indicating that recovering this key trend line remains critical to bullish momentum.
"Bear markets don't always look like bear markets, especially in lower time frames," Keith Alan wrote, emphasizing the importance of monitoring major moving averages to confirm trends.
