Bitcoin, Ethereum, XRP, Dogecoin Rise 4% As Global Risk Appetite Improves

Bitcoin is holding $71,000 on easing geopolitical tensions and a U.S.-Iran ceasefire that boosted global risk appetite.

Notable Statistics:

• Coinglass data shows 120,044 traders were liquidated in the past 24 hours for $653.60 million.       
• SoSoValue data shows net outflows of $159 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $64.7 million.
• In the past 24 hours, top gainers include Zcash, Monad and Ethena.

Notable Developments:

• Morgan Stanley Launches Low-Fee Bitcoin ETF To Rival BlackRock, Grayscale
• Strategy’s New Product Grew Faster Than The iPhone And Google Ads Combined
• Zcash Price Soars 21% After Leading Bitcoin Mining Pool Adds ZEC Support
• Bitcoin At $71,000, But On-Chain Data Screams ‘Be Careful’
• Coinbase Wins Australian Derivatives License As COIN Targets Trend Reversal
• Iran Demands Bitcoin Payments At Hormuz As Trump Says Strait Must Open ‘Immediately And Completely’

Trader Notes:

Trader Michael van de Poppe expects the market to consolidate before continuing higher. He noted that a short-term pullback is possible, but there is no major concern as long as Bitcoin holds above approximately $69,500. If stability persists, he believes Bitcoin could quickly advance toward $80,000 in April.

Analyst Ted Pillows said Bitcoin has turned bullish after breaking its downtrend, supported by a bullish MACD crossover. His outlook points to a short-term rally toward $80,000, followed by a potential local peak and a deeper correction before new lows. He also suggested a market bottom could form in the third quarter, with a possible recovery toward $100,000 by the end of the fourth quarter if monetary easing resumes.

Daan Crypto Trades highlighted that Bitcoin continues to test resistance near $72,000. A strong and sustained breakout above this level, confirmed by several days of holding, would signal renewed upward momentum.

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