Over in the U.S. stock market, the crypto concept stocks have collectively exploded again: Strategy is up 12%, and Coinbase is up 9%. Following Trump’s comment about ending the crypto war, the market’s reaction has been that BTC first poked up to 70,000 and then bounced back—now it’s at 69,368.
This kind of move is familiar territory for seasoned traders. The news acts as the spark, and the options and derivatives short positions get squeezed too. After a quick surge, there’s typically a need to catch a breather. The key is volume: if price moves alone without sustained buy-side follow-through, then this attempt at 70,000 is still more of a probing move.
As for the U.S.-listed token side, MSTRB has the most direct linkage. If you’re watching it, keep an eye on whether BTC can hold above 69,500. If it can’t, then before the U.S. market opens, expectations are likely to get priced in quickly first, and then it could open higher and trade down.
It’s been the same rhythm in several past rounds of the market—don’t be quick to slap the table.
This kind of move is familiar territory for seasoned traders. The news acts as the spark, and the options and derivatives short positions get squeezed too. After a quick surge, there’s typically a need to catch a breather. The key is volume: if price moves alone without sustained buy-side follow-through, then this attempt at 70,000 is still more of a probing move.
As for the U.S.-listed token side, MSTRB has the most direct linkage. If you’re watching it, keep an eye on whether BTC can hold above 69,500. If it can’t, then before the U.S. market opens, expectations are likely to get priced in quickly first, and then it could open higher and trade down.
It’s been the same rhythm in several past rounds of the market—don’t be quick to slap the table.