ChainCatcher News: Bitcoin surged to around $71,000 during the U.S. trading session on Wednesday before pulling back. On Thursday during Asian hours, it was around $68,600, failing to hold above a key round number. Since the end of February, BTC has mostly traded within a range, having dipped to $62,500 earlier this month and reaching a high of $71,100 on February 15.
Market analysts note that in January, Bitcoin briefly broke above a similar trading range but then quickly fell from $98,000 to $60,000. During this downward cycle, it formed lower highs, causing some traders to remain cautious about the sustainability of recent breakouts. Derivatives data shows that open interest (OI) in crypto futures has increased by over 6.6%, approaching $100 billion, outpacing overall market cap growth and indicating new capital inflows.
In the options market, Deribit data shows that Bitcoin’s rebound has increased demand for call options with strike prices between $85,000 and $90,000. However, the overall options structure remains skewed toward downside protection, with $60,000 put options being the most popular, with open interest exceeding $1.4 billion, suggesting market participants still harbor some downside risk concerns.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Core Scientific to Sell 2,500 Bitcoin as Company Pivots Toward AI
Core Scientific plans to sell most of its 2,500 BTC holdings in Q1 2026 to boost liquidity and finance AI-focused data center expansion, reflecting a trend among miners transitioning towards high-performance computing.
CoinpediaJust Now
The altcoin market is experiencing a structural decline, with 38% of tokens approaching historical lows, as funds continue to flow into Bitcoin and Ethereum.
The current crypto market is showing clear divergence, with 38% of altcoins trading near historical lows and facing ongoing selling pressure. Liquidity is tightening, with market funds concentrating in Bitcoin and Ethereum. Some public chain projects remain active, but liquidity for many altcoins has decreased significantly, transaction costs have risen, and market vulnerability has increased. Additionally, enhanced European regulation could further accelerate market concentration, and the long-term disadvantages of fringe altcoins are becoming more apparent.
GateNews1m ago
Iran conflict escalation drives surge in Bitcoin demand, with large amounts of funds withdrawing from platforms and moving into personal wallets
As tensions in the Middle East escalate, cryptocurrency trading in Iran has significantly increased, with users大量 buying Bitcoin and transferring it to personal wallets to protect their assets. The platform Nobitex has experienced a surge in withdrawals, indicating a reduced reliance on centralized services. Historically, during geopolitical conflicts, cryptocurrencies often serve as tools for cross-border transfers and risk mitigation. Users diversify assets to reduce risk but also need to bear the responsibility of private key management. Amid increasing global market uncertainty, some funds are flowing overseas, with investors turning to Bitcoin to hedge against banking restrictions.
GateNews3m ago
Tether reinvests 5 million Swiss Francs to advance Plan ₿ Phase 2, with Lugano, Switzerland, accelerating the development of the Bitcoin city
Tether has renewed the "Plan ₿" agreement with the City of Lugano, launching the second phase from 2026 to 2030, with an investment of 5 million Swiss Francs for digital infrastructure and blockchain applications. The project has already attracted support from over 400 merchants for digital asset payments and has promoted the development of fintech. The second phase will focus on digital asset management, automation systems, and privacy protection, aiming to enhance the city's digital economy competitiveness.
GateNews7m ago
