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Bitcoin has repeatedly hit the $73,000 barrier. Since the ceasefire announcement, it has rebounded three times at this level, but each time it loses momentum within a few hours. The current range is between $70,000 and $73,000. Just shifting from the previous range of $65,000 to $73,000 upward, the pattern hasn't changed.
On a weekly basis, it's up 7.9%, and the 50-day moving average is also trending upward. Ethereum is around $2,189, Solana is in the $83 range, and Dogecoin is near $0.092. All top 10 coins have been in positive territory for over a month. The movement isn't bad, but the inability to break above $73,000 is concerning.
According to analysts, confirming a true bull market requires breaking through at least $75,000. A more bullish scenario involves a correction above $74,000 followed by a target of $80,000. $73,000 might still just be noise.
However, the ceasefire is starting to unravel. Iran is accusing the U.S. of breaking the agreement, and the Strait of Hormuz hasn't fully reopened. Crude oil dropped about 15% at one point but rebounded to over $97. Geopolitical risks are still impacting the market.
Altcoins are more dispersed; Algorand has fallen 11.4%, and Aptos and Polkadot are down nearly 6%. This is a typical pattern of position adjustments. It seems to be more about rotating existing positions rather than new capital inflows.
The Fear and Greed Index has exited the single digits for the first time in over a month, indicating a gradual improvement in market sentiment. If the ceasefire continues through the weekend and the strait opens further, $73,000 could be broken in the next challenge. However, if Tehran's dissatisfaction grows, a correction to $68,000–$70,000 might be the least resistant scenario.