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Bitcoin Nears $75K as Trader Says BTC Price Squeeze Changes Nothing

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Crypto Breaking News

Bitcoin extended a cautious rally at the start of the week, touching six-week highs as U.S. equities opened higher on signs of easing geopolitical tensions surrounding Iran. The move came alongside firmer price action for a broad set of risk assets, yet analysts warned that the longer-term trend for Bitcoin remains downbeat, with macro and liquidity dynamics continuing to influence the market. Traders are watching for whether this is a durable shift or a temporary relief bounce that fails to establish a footing above important technical levels.

Key takeaways

  • Bitcoin rose to around $74,600 at Monday’s Wall Street open, aligning with a 1.5% uptick in major indices as investors digested signals of deescalation in the Iran situation.
  • Oil and gold retreated from recent highs, with WTI crude briefly dipping below $100 per barrel and gold testing the $5,000 level, a move seen as a return to more conventional risk-off hedges as tensions eased.
  • Analysts highlighted that the relief bounce is fragile; a sustained breakout would need to contend with the broader trend, which remains pressured by macro headwinds and caution around liquidity.
  • Market commentary framed Bitcoin as competing with traditional safe-havens during periods of geopolitical stress, a narrative that could gain traction if volatility persists.
  • Some traders flagged potential technical triggers, including a CME Group futures gap and the importance of trend-line support, as markets weigh whether the rally can hold.

Tickers mentioned: $BTC, $ETH

Sentiment: Neutral

Price impact: Neutral. The price action shows a cautious uptick but fails to confirm a durable trend reversal.

Trading idea (Not Financial Advice): Hold. While the intraday moves look constructive, the overall setup remains conflicted, with macro factors and risk sentiment likely to dictate the near-term path.

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Market context: The week opened with risk assets under a mixed macro backdrop, as de-escalation signals in geopolitical tensions tempered some speculative theta, aiding a risk-on impulse in equities while leaving crypto charts tethered to potential further volatility.

Why it matters

Bitcoin’s brief ascent to the six-week high territory underscores a resumed correlation with traditional markets under certain macro conditions, particularly when headlines point toward easing tensions or softer geopolitical risk. While the price crest near $74,600 signals renewed interest, the broader market narrative remains uncertain. The juxtaposition of crypto’s potential as a geopolitical hedge against the continued drag of macro headwinds raises questions about whether the asset class can sustain upside in a liquidity environment that has shown cyclical sensitivity to headlines.

Early-week moves also highlight the evolving discourse on crypto’s role in macro portfolios. Analysts from QCP Capital suggested the possibility of Bitcoin acting as a digital safe haven or geopolitical hedge during periods of instability, noting that price action has sometimes tested that narrative in real time. The notion of crypto as an alternative to gold in risk-off periods is not new, but it appears to be resurfacing in markets where traditional hedges still carry significant risk premia. This re-emergence could influence trader psychology, especially if correlations with equities and precious metals spike again during bouts of volatility.

On the technical front, traders emphasized that the relief bounce needs to prove durable. After reclaiming some key trend lines, Bitcoin and Ether (CRYPTO: ETH) were watched against broader asset classes for signs of sustainability. The commentary suggested that a longer-lived advance would require a shift in risk appetite and a break above critical resistance, not merely a one-off move driven by temporary headlines. For now, the market remains cautious, with many players hedging around what could become a larger pivot in macro sentiment rather than a straightforward risk-on impulse.

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What to watch next

  • Price action around the $74,000–$75,000 zone and whether Bitcoin can sustain a break above recent inertia, or if price returns to tested support levels.
  • The CME Group Bitcoin futures gap near $71,500 and whether price revisits that area, potentially shaping a fresh reversal or consolidation zone.
  • any renewed headlines on Middle East tensions and their impact on oil, gold, and broader risk sentiment, including the potential for renewed volatility in the Strait of Hormuz.
  • ongoing commentary from traders like Jelle on longer-term BTC cycles and the likelihood of a continued bear market versus a structural shift in market dynamics.
  • persistent discussions around Bitcoin’s narrative as a digital hedge, particularly if macro stress signals intensify again or if liquidity conditions tighten ahead of economic data releases.

Sources & verification

  • QCP Market Color analysis discussing Bitcoin’s narrative as a potential digital hedge and the risk-on/risk-off dynamics observed in the market.
  • BTC price data and chart references from TradingView (BTCUSD) cited in market commentary and chart captions.
  • Trader commentary on price action around the CME Bitcoin futures gap near $71,500 (as discussed by Daan Crypto Trades on X).
  • Analyst notes from Jelle on X regarding bear market cycles and potential lower-price scenarios.
  • Public posts and discussions referencing geopolitical developments, including coverage of Hormuz tensions and de-escalation signals.

Market reaction and key details

Bitcoin (CRYPTO: BTC) advanced to the upper band of its recent range as Wall Street opened on a cautiously optimistic note. The largest cryptocurrency by market cap rose toward $74,600, coinciding with a roughly 1.5% uptick in major equity indices. The macro backdrop showed oil slipping below the $100 per barrel threshold and gold pulling back from peak levels, approaching key moving-average support as investors priced in slower-than-expected geopolitical risk. The juxtaposition of crypto strength against steadier asset classes underscores a watershed moment for traders evaluating whether this is a durable shift or a transient relief rally.

Analysts at QCP Capital framed the move as part of a broader narrative in which Bitcoin and Ether (CRYPTO: ETH) are being tested by traditional risk signals. They noted that BTC and ETH managed to push above critical round-number benchmarks, but the broader risk-off tilt persisted in equities and precious metals, tempering the vigor of a potential sustainable breakout. One line from the analysis captured the tension: “If this pattern persists, it would be a late-quarter plot twist, given crypto’s underdog status and its familiar habit of correlating with traditional assets mostly on the way down.”

The discussion around Bitcoin as a possible digital safe haven resurfaced amid softer geopolitical headlines, with market participants considering whether BTC could serve as a hedge during periods of uncertainty. While that narrative has been tested before, the current price action provides a fresh data point for those arguing that crypto may offer diversification benefits when traditional hedges come under pressure. Still, a majority of traders cautioned that the relief bounce is unlikely to rewrite the longer-term technical picture without sustained demand and a clear breakout above key resistance zones.

From a sentiment standpoint, some market voices urged patience. A number of traders highlighted that the latest rally might represent a higher low rather than a robust reversal, signaling the potential for a renewed move lower if conditions deteriorate or if macro liquidity tightens again. The conversation in social feeds—ranging from market commentators on X to posts referencing CME data—emphasized that the market’s next move would hinge on the ability of buyers to absorb any renewed volatility stemming from macro headlines or shifts in risk sentiment. In addition to technical considerations, the unfolding narrative around the Strait of Hormuz continued to influence the energy complex and, by extension, the risk-on/risk-off calculus for investors across asset classes.

Charts comparing BTC against gold and other assets illustrated a recurring theme: Bitcoin’s price action remained tightly bound to broad market cycles, with the 50-day moving average for gold providing a rough guidepost for risk appetite. The visual relationships underscored the ongoing debate about Bitcoin’s role in diversified portfolios during periods of geopolitical risk and macro uncertainty. As traders weigh the probability of further volatility, the question remains whether this week’s price action marks the start of a sustained re-valuation or a temporary pause within a longer-downtrend framework.

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Key figures and next steps

In the near term, market participants will be attentive to whether BTC can maintain momentum beyond the $74k handle and whether the next weekly candle closes above critical technical thresholds. The possibility of a retracement back toward the CME-futures-defined area around $71,500 could provide a fresh pivot point for risk controls and short-term trading strategies. The interplay between oil, gold, and crypto will continue to shape risk sentiment, especially if geopolitical headlines shift again or if macro data surprises alter the liquidity outlook.

Detailed verification notes

The material reflects market commentary and data points reported during the week’s opening session, including: crypto price action near $74,600; the role of QCP Market Color in framing Bitcoin’s narrative; the presence of a CME gap around $71,500 as observed by CME-related traders; and social-media commentary from traders such as Jelle and Daan Crypto Trades. The embedded trading charts from TradingView provide ongoing price context for BTCUSD as markets respond to evolving macro and geopolitical signals.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Crypto World

Is There a Breakout for LINK to $27?

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Crypto Breaking News

Key Takeaways

  • The number of Chainlink whale wallets holding more than 1 million LINK has increased by 25% year over year.
  • Tighter LINK supply from institutional involvement is pushing prices higher.
  • LINK is trading within a range but may be ready to break out to $27.

Accumulation of Whales Points to Building Confidence

The whales have shown strong activity around Chainlink’s coin in the last year, indicating growing confidence in this asset.

According to statistics, the number of addresses holding at least one million LINK has risen from 100 in April 2025 to 125 in April 2026, a 25% increase.

Although whales have been accumulating LINK tokens, prices have not responded positively.

However, accumulation by whales is generally a positive long-term outlook as opposed to short-term speculation and price increases.

Institutional Adoption Narrows Supply-Demand Dynamics

Other than whale actions, institutional adoption has become key in dictating Chainlink’s future prospects. The Chainlink Reserve fund has increased consistently by over 137,000 LINK tokens worth about $1.17 million. The total amount held in the reserve fund stands at over 2.93 million LINK tokens, thus decreasing the amount of LINK in circulation.

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Moreover, Chainlink’s platform infrastructure keeps gaining traction among enterprises. Applications using Chainlink’s oracle technology are providing fee revenues, thus boosting the ecosystem’s operations. Specifically, token distribution and stablecoin distribution applications are providing enhanced liquidity and higher demand for LINK tokens.

The development of data-based platforms has led to more growth. More transactions have been seen in data feeds and oracle networks, leading to billions of dollars worth of trading volumes with thousands of active users.

Imminent Breakout Hints at Price Consolidation Point

Technically speaking, LINK has been consolidating around $8-$9.40 during the last few weeks after early February.

The period of consolidation means uncertainty in the market when neither bulls nor bears fully control the situation.

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Nonetheless, the creation of a slanting resistance trend line means that the price might soon break out. Currently, the MACD is mildly bearish but the declining red histogram hints that selling strength is fading away.

In general, past history has shown that similar consolidation points have usually been followed by a breakout towards new highs in LINK’s price action. Prior times in which the asset experienced such a consolidation phase ended up in substantial rallies once the resistance was breached.

A potential breakout from the slanting resistance trend line will probably increase the bullish activity as well as the ongoing accumulation among whales.

Will LINK Return to $27?

The $27 level is a crucial resistance point for Chainlink. Although the price currently stands well below this level, it should be noted that there is nothing theoretically stopping LINK from reaching these heights.

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Breaking out of the current consolidation pattern with the help of continued accumulation by whales and institutions would trigger the beginning of an uptrend. Nevertheless, traders must keep in mind other elements, including the state of the cryptocurrency market and the economy as a whole.

Chainlink is currently at an important crossroads, with whales accumulating and institutions adopting the project, but its price failing to rise correspondingly. It is clear that the limited supply and expanding network serve as a great starting point.

Although LINK appears to be in a range-bound situation, it should not be forgotten that technical analysis points toward an eventual breakout. If the momentum rises, achieving new price levels—including $27—becomes a possibility.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Will Solana rally to $93 despite mixed derivatives sentiment

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Will Solana rally to $93 despite mixed derivatives sentiment

Solana (SOL) is trading just above $82 at the time of writing on Monday, marking its fourth consecutive day of recovery. While funding rates for SOL futures have climbed, a simultaneous drop in Open Interest suggests sentiment remains divided. From a technical perspective, the 50-day Exponential Moving Average (EMA) at $88.80 stands out as the key resistance level to watch.

Derivatives signal optimism, but participation declines

Market data points to rising bullish positioning among traders, even as overall participation in SOL futures contracts declines. According to CoinGlass, the OI-weighted funding rate has increased to 0.0067% from 0.0042% on Sunday, indicating that long-position traders are willing to pay a premium—typically a sign of growing confidence in further upside.

However, this optimism is not fully supported by market activity. Open Interest in SOL futures has dropped to $4.97 billion from $5.07 billion on Friday, signaling a reduction in total capital committed to the market. This divergence—rising funding rates alongside falling Open Interest—highlights a mixed sentiment, where bullish bias exists but conviction appears limited.

Institutional demand remains soft

On the institutional side, demand for Solana continues to show weakness. Data from Sosovalue reveals that SOL-focused exchange-traded funds (ETFs) recorded net weekly outflows of $5.24 million, marking a second straight week of withdrawals. If this trend persists, it could represent the longest streak of weekly outflows so far, potentially adding downward pressure to SOL’s spot price in the near term.

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Will Solana extend its recovery to $93?

The SOL/USD 4-hour chart is bullish and inefficient, with the coin up by nearly 4% in the last 24 hours. At press time, SOL is trading at $82.50 per coin. 

The near-term bias is mixed as SOL holds well below the 50-day and 100-day Exponential Moving Averages, keeping a broader corrective structure.

The momentum indicators have also switched bullish, with further gains in the near term. The Moving Average Convergence Divergence (MACD) line remains above its signal line, signaling persistent buying pressure. 

The Relative Strength Index (RSI) at 60 is above the neutral 50, signaling a growing bullish momentum.

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If the rally persists, Cardano would meet an immediate resistance at the 50-day EMA near $88.81, which caps rebounds and guards a stronger move toward $98.02, close to the 100-day EMA at $102.18.

SOL/USD 4H Chart

However, if the sellers regain control, the support zone between $75.63 and $77.60 could serve as a bounce-back spot. An extended selling pressure would bring into focus the February 6 low at $67.50.

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China’s Tax Authority Urges Bank Blockchain Implementations for Lending

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China's Tax Authority Urges Bank Blockchain Implementations for Lending

China’s tax and financial regulators on Monday urged banks and local authorities to use blockchain and privacy computing to upgrade the “bank-tax interaction” model and expand financing for small businesses.

The State Administration of Taxation and National Financial Regulatory Administration said in a joint policy notice that banks and taxpayers should standardize data sharing and reduce information asymmetry between tax authorities, banks and enterprises.

The report also urged banks to improve credit models, enhance credit approval efficiency and increase the supply of financing services to “honest, tax-paying enterprises.”

The directive aligns with China’s broader effort to integrate blockchain into data infrastructure, following a National Development and Reform Commission roadmap released in January 2025 targeting nationwide implementation by 2029.

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Shen Zhulin, the deputy director of the National Data Administration, said in a January 2025 press conference that China expects blockchain-based data infrastructure to attract 400 billion yuan (about $58 billion) in yearly investments.

A machine translation of a joint notice from Chinese regulators. Source: Shanghai Municipal Tax Service

Chinese regulators outline data infrastructure push with 400 billion yuan target

While China has issued strict controls on cryptocurrencies and speculative digital asset trading, it also pushed for the incorporation of blockchain initiatives in finance and data infrastructure.

In October 2019, Chinese President Xi Jinping highlighted the technology as an important “breakthrough” for independent innovation of core technologies, urging the acceleration of the development of blockchain-based applications and their integration in the real-world economy.

Related: Trump: US has to ‘make it so that China doesn’t get the hold‘ of crypto

In April 2021, the Shenzhen Tax Bureau expanded the country’s first blockchain electronic invoice system.

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However, in September that same year, China issued a nation-wide ban on crypto transactions and mining as part of a wider crackdown across multiple government agencies.

Top Bitcoin mining countries by hashrate. Source: Compass Mining

Despite the ban, China is still cited as the third-largest Bitcoin (BTC) mining country. In January 2026, it accounted for 11.7% of the global hashrate, according to data from Compass Mining.

Magazine: China’s ‘50x’ blockchain boost, Alibaba-linked AI mines Bitcoin: Asia Express