Finance News
By Jean-Luc Maracon
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Geopolitical Winds Shift. But the short squeeze wasn't the only thing driving Bitcoin higher.
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Retail Traders Jump In. Regular investors didn't want to miss out on the action.
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Bitcoin smashed through $76,000 Tuesday morning. The world's biggest cryptocurrency rocketed to a four-week high after a brutal short squeeze wiped out hundreds of millions in…
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The carnage started Monday evening when Bitcoin broke past key resistance levels between $72,000 and $73,500.
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Options traders had been building up what analysts call "negative gamma" around the $75,000 level.
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But the short squeeze wasn't the only thing driving Bitcoin higher. News broke that the Trump administration might be making progress on a deal with Iran.
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Oil prices had been sitting above $100 per barrel because of that blockade. The potential for relief sent risk assets like Bitcoin surging as traders bet on reduced geopolitical…
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Strategy's massive buying spree added fuel to the fire. The company's at-the-market preferred stock program saw over $1 billion in trading volume on April 13 alone.
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That purchase cost the company about $796 million. Strategy now holds more than 780,897 Bitcoin, worth nearly $59 billion at current prices.
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Strategy's stock jumped over 8% to around $143 as investors cheered the Bitcoin rally. The next big test for Bitcoin sits between $80,000 and $80,600, where technical analysts…
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Regular investors didn't want to miss out on the action. Trading volumes on major exchanges like Binance and Coinbase doubled compared to the previous week.
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The CFTC took notice of all this volatility. A spokesperson warned traders on April 14 about the risks of trading during such wild price swings.
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Crypto analyst Alex Krüger thinks Bitcoin could keep climbing if it holds above $76,000. He pointed to historical patterns where price consolidation led to bigger rallies later.
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Ethereum caught a bid too. The second-biggest crypto climbed to $2,450 on April 14, riding the same wave of short liquidations that lifted Bitcoin.
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MicroStrategy's Bitcoin bet looks pretty smart right now. The company holds over 140,000 Bitcoin, bought at an average price of roughly $30,000.
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