According to ChainCatcher, market sources indicate that Bitcoin is currently fluctuating above $72,000, while Ethereum has seen a slight increase, with the market entering a consolidation phase after its previous breakout. Although Bitcoin has successfully held above the $70,000 mark, which had previously acted as resistance, the anticipated rapid upward surge towards $80,000 has not yet materialized.
Market expectations of easing tensions in the Middle East boosted risk assets. However, if shipping disruptions occur in the Strait of Hormuz and push up inflation, the Federal Reserve may be forced to maintain a tighter interest rate policy. Derivatives data shows that bullish sentiment remains moderately strong, with Bitcoin futures open interest (OI) rising to approximately 680,000 BTC, reaching a near two-week high. Meanwhile, open interest in gold-linked tokens XAUT and PAXG futures continued to decline, indicating that some funds may be flowing back into mainstream crypto assets after the gold rally slows.
In the options market, demand for high-strike-price call options increased, while 30-day implied volatility remained generally stable, reflecting relatively stable market sentiment.
