Bitcoin surged to $79,500, its highest since February, gaining $5,000 in 72 hours. The rally caused a $207 million short squeeze, with market cap reaching $1.58 trillion. The move followed President Trump's extended influence, boosting investor confidence. Analysts note the rise lacks full conviction, but the momentum indicates strong buying interest among traders.
Bitcoin neared $80,000 on April 23, as it surged past $77,500 and reached a high of $79,490. The cryptocurrency is consolidating above $77,200, with resistance at $78,500 and potential for further gains if it stays above key support levels. A close above $79,200 could push Bitcoin toward $80,000, attracting fresh buying interest.
In April, Bitcoin's price dipped below $60,000, but traders' expectations of a further decline have decreased, indicating a shift in market sentiment. Despite geopolitical tensions, the odds of a significant drop are now lower as traders price out the possibility of a major dip. This suggests increased confidence in Bitcoin's stability amid ongoing market volatility.
Bitcoin is trading around $78,286, below the $79,000 resistance, signaling a consolidation phase after a sharp rebound. Market data indicates profit-taking and a rotation into a supply zone, suggesting traders are cautious. The decline from the all-time high of nearly $126,038 is about 37.89%, but the market shows signs of stabilization.
Iran plans to charge Bitcoin fees for ships passing through the Strait of Hormuz, with BTC trading at around $78,328, up 2.71%. The move signals increased geopolitical interest in crypto, amid broader tensions and blockchain discussions. Support levels are at $76,132, with resistance at $78,935, as Iran explores crypto's role in regional trade.
Charles Schwab has launched Bitcoin and Ethereum trading with a 0.7% fee per trade. The move, announced in April 2026, aims to boost demand for cryptocurrencies and influence market dynamics and advisor strategies. This marks Schwab’s entry into direct crypto trading, potentially impacting the broader digital asset landscape despite ongoing debates about long-term value.
Bitcoin's derivatives market shows signs of a bullish rebuild, with the Bitcoin Positioning Index reaching a four-month high of 4.5 and futures open interest increasing by 14.5% over 30 days. These signals suggest traders are adding fresh exposure rather than covering shorts, indicating a potential structural recovery in the market since February, when Bitcoin fell below $63,000.
