- Bitcoin hits a monthly high as it climbed to about $72,941 and reached a four-week peak near $73,243 amid improving market sentiment and bargain buying.
- Crypto market rebounds with the total market cap rising 1.07% to $2.46 trillion, while major altcoins like Ethereum, BNB, and XRP posted gains.
- Regulatory optimism boosts sentiment after Donald Trump called for a U.S. crypto market framework, raising hopes for clearer regulations.
- $70K remains a key level for Bitcoin and holding above it could trigger a move toward $80K–$85K, while losing it may send Bitcoin back toward the $60K–$65K support zone.
Bitcoin surged to a four-week high on Wednesday, opening a path towards $78,000, a level it held strongly in January 2026. BTC price steadied on Thursday after a mix of regulatory optimism and improving sentiment that drove strong gains in the king of cryptocurrencies, although risks from the Iran conflict still persist.
Bitcoin price surged 2.33% in the last 24 hours to trade at $72,941 as of 05:25 a.m. EST, after rising to a one-month high of $73,243 on Wednesday.
Broader crypto prices rose on Thursday, tracking a jump in Bitcoin as the market recouped some of its losses from the prior month. The crypto space saw a 1.07% jump to a $2.46 trillion market capitalization, as most altcoins, including ETH, BNB, and XRP recorded substantive gains.
As a result, total liquidations in the crypto market came in at $472.86 million, with over $352.62 million coming from short positions, according to Coinglass data.
Bitcoin Rallies on Wall Street Support, Trump Comments
The sharp rally in the price of Bitcoin earlier this week buoyed risk appetite, as a measure of bargain buying also aided BTC, after it logged deep losses in February.
This comes as the CMC Crypto Fear and Greed Index also jumped from extreme fear levels to fear (from 19 to 29).
The market was largely supported by US President Donald Trump calling for the swift passage of a long-delayed crypto market framework bill, while also criticizing major US bank groups over their opposition of yield payments on stablecoins.
The comments by the president drove up some hopes that crypto will gain more regulatory favor in the US. However, there appears to be little immediate progress towards the passage of the CLARITY Act, which aims to establish market structure for the industry.
Meanwhile, US stock futures ticked lower on Thursday, as investors continue to assess the outlook for the ongoing conflict in Iran that is now entering its sixth day.
The Dow futures contract has fallen by 285 points, or 0.6%, S&P 500 futures has declined by 29 points, or 0.4%, and Nasdaq 100 futures has dropped by 115 points, or 0.5%.
The main averages on Wall Street moved higher, while oil prices and bond markets moderated, which suggests a potential stabilization in financial markets, which have been jittery by the fighting in the Middle East.
Also Read: Bitcoin Long Liquidations Surge To $175 Million, Undoing Post-Jane Street Hype
Can BTC Hold $70,000 or Is This a Sucker’s Rally?
Bitcoin price on the 3-day chart is currently in a short-term bearish structure after a sharp breakdown from the $100K–$110K distribution zone.
BTC price is trading near $72,900, well below the 50-day SMA ($88,900), signaling that momentum has shifted to the downside after the previous macro uptrend.
The chart shows a strong rejection from the SMA, which now acts as dynamic resistance. This suggests that bulls must reclaim the $85K–$90K region before the broader bullish structure can resume.
BTC/USD Chart Analysis: TradingView
The highlighted demand zone around $60,000–$65,000 recently produced a reaction bounce, indicating buyers are defending that area.
The RSI sits near 43, recovering from oversold levels. While this bounce suggests short-term relief, it still shows that the price of BTC is on a weak momentum, not a confirmed trend reversal.
If BTC holds above $70,000, a relief rally toward the $80,000–$85,000 supply zone is possible. However, failure to maintain this level could trigger another liquidity sweep toward $60,000 support before any sustainable bullish continuation develops.
