Bitcoin

April

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) experienced significant volatility on April 19 due to geopolitical unrest in the Middle East.</li>
 <li>Despite the market turbulence, Bitcoin managed to rebound from a seven-week low.</li>
</ul>
<p>On April 19, <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> encountered a sudden fluctuation due to the geopolitical instability in the Middle East.</p>
<p>This instability had a direct impact on financial markets, causing Bitcoin to dip to a seven-week low of $59,630 after the daily close on April 18.</p>
<h2 id="market-reactions">Market Reactions</h2>
<p>The dip was in response to escalating tensions between Iran and Israel, which have had a significant effect on Bitcoin’s value this month, leading to a significant drop from $70,000.</p>
<p>However, amid speculation that the situation may not escalate further, Bitcoin staged a remarkable recovery from its lows, hitting local highs of $65,190.</p>
<p>Noted trader Skew observed that both long and short Bitcoin positions were affected by the volatility.</p>
<p>He stated that current spot demand was driving the recovery, with “sizable” bids filled during the dip below $60,000.</p>
<h2 id="shorters-surprise">Shorters’ Surprise</h2>
<p>Data from CoinGlass, a monitoring resource, revealed the extent of shorters’ surprise, with sell-side liquidity between $64,000 and $65,000 being taken instantly.</p>
<p>In the last 24 hours, total cross-crypto short liquidations stood at $138 million.</p>
<p>Despite the focus on short-term price movements, Bitcoin’s imminent block subsidy halving has received little attention.</p>
<p>However, the market seems to have formed a baseline support level around the recent lows, with anticipation for a potential rally slowly returning.</p>
<p>Crypto Ed, creator of CryptoTA, stated that downside targets had been hit, leaving room for a sustained recovery.</p>
<p>He believes that if there is no more significant news from the Middle East, Bitcoin could start its next upward trend and experience a relief/halving rally.</p>

Bitcoin Price Soars to $65K Amid Rising Middle East Tensions and Speculations

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