Wintermute says Bitcoin's rally above $82,000 looks more like a derivatives-led short squeeze than spot-led demand, with spot trading volume at a two-year low and CPI plus Fed leadership change in focus.
Bitcoin is trading near fresh highs as markets focus on U.S. industrial output, PPI data, and the upcoming Fed decision, with Iran-related tensions adding another macro risk layer.
Bitcoin jumped above $71,000 after a conditional two-week ceasefire between the US and Iran. QCP Capital warns this is a 'pause, not peace,' with options skew deepening and strong put demand. Key tests ahead: CPI data and diplomatic progress.
Bitcoin briefly hit $73,115 after March core CPI came in at 0.2% vs 0.3% forecast, signaling inflation is energy-concentrated. US-Iran peace talks in Islamabad this weekend are the next catalyst. Analysts watch $75K breakout level.
Escalating Middle East tensions sent crude oil above $110, pressuring stocks and crypto. Bitcoin failed to hold $74K, slipping back to $66K. Focus now on CPI data and Fed rate-cut timing.
Strategy said it bought 17,994 BTC for about $1.28 billion, lifting its total holdings to 738,731 BTC. After the disclosure, Bitcoin traded near $70,165 and MSTR shares rose about 4% in the latest session.
President Trump escalates attacks on Fed Chair Powell, calling him a 'disaster for America'. With 10-year yield near 4.5% and mortgage rate above 6.5%, markets brace for April CPI data on May 12, which could spark sharp moves in Bitcoin and other risk assets.
BTC fell to $65,000 after weaker-than-expected jobless claims and housing sales, combined with US government shutdown risk and Asian Lunar New Year caution. Short-term downtrend persists with CPI data due tonight.
