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Kraken Launches Bitcoin Perpetual Futures For U.S. Traders

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Kraken Launches Bitcoin Perpetual Futures For U.S. Traders

Kraken has switched on perpetual futures trading for eligible U.S. clients on Kraken Pro, bringing the most-traded crypto derivatives product under domestic regulatory oversight for the first time at scale.

The contracts are listed on Bitnomial, a CFTC-licensed exchange, clearinghouse, and brokerage that Kraken’s parent company, Payward, acquired earlier this year. The launch gives U.S. traders access to perpetual futures — a product that generated more than $60 trillion in global trading volume in 2025 — within the CFTC’s regulatory perimeter, on a platform they can use alongside spot, margin, and CME-listed futures.

Perpetual futures track the price of an underlying asset without an expiration date. Unlike standard futures contracts, positions require no rollover and can remain open as long as margin requirements are met. The structure gives traders sustained leveraged exposure, long or short, to assets they do not hold in custody.

To keep contract prices anchored to spot markets, Kraken’s perpetuals use an 8-hour funding rate mechanism. At 7 p.m., 3 a.m., and 11 a.m. CT each day, long and short position holders exchange funding payments. When the perpetual price sits above spot, longs pay shorts; when below, shorts pay longs, the company said. 

Kraken’s launch 

The launch rests on Bitnomial, which holds the full stack of U.S. derivatives licenses — exchange, clearinghouse, and brokerage. Payward closed the Bitnomial acquisition in May of this year, one year after completing its purchase of NinjaTrader in May 2025. 

Those two acquisitions gave Kraken the regulated infrastructure needed to offer perpetuals within a domestic venue.

Perpetual contracts on Kraken Pro sit in the same futures wallet as existing CME-listed products, meaning traders can manage both CME futures and crypto perpetuals against a single pool of collateral. That structure removes the need to hold capital across multiple venues to fund separate positions.

Arjun Sethi, Co-CEO of Payward and Kraken, framed the offering around operational efficiency: 

“The most useful thing an exchange business can do for a serious trader is to put everything in one place. Spot, margin, futures and now perpetuals all live in the same account at Kraken, with perpetuals and futures backed by the same collateral so capital isn’t stranded across half a dozen venues.”

At launch, eligible U.S. clients can trade perpetual bitcoin and eight other assets. Kraken has said it intends to expand both the contract set and available collateral options over time. 

Products are offered through NinjaTrader Clearing, LLC, doing business as Kraken Derivatives US, a CFTC-registered Futures Commission Merchant.

The launch follows a CFTC signal in May that opened the door for regulated platforms to offer perpetual futures. 

The agency approved Kalshi’s bitcoin perpetual contracts that month and issued guidance that also created a path for Coinbase to connect U.S. customers to global options and perpetual markets. 

Kalshi saw more than $1 billion in perpetual trading volume within its first week of offering the product.

Hyperliquid loses Anthropic, OpenAI markets as creator shuts down project

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Hyperliquid loses Anthropic, OpenAI markets as creator shuts down project

One of the biggest players that provides trading of private-company stocks on Hyperliquid is closing down, signaling that this hot new market is beginning to consolidate.

Ventuals, the project behind perpetual futures tied to OpenAI and Anthropic valuations, said Monday it is winding down and that its team will join another project building within the Hyperliquid ecosystem.

The move has halted trading in the OPENAI and ANTHROPIC markets, with all positions settled automatically. Other markets will be shutting down in the coming days. The team said it generated more than $650 million in trading volume and attracted over 500,000 HYPE in community support during its run.

The shutdown comes as crypto-native trading venues increasingly push beyond digital assets into markets traditionally associated with Wall Street. Traders can now use perpetual futures to speculate on commodities, equities and private-company valuations through blockchain-based markets.

Hyperliquid has become one of the leading venues for that trend. The exchange processed roughly $234 billion in perpetual futures volume over the past month, according to DefiLlama data.

Paradigm Leads $9 Million Round in Latin American Stablecoin App El Dorado

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Paradigm Leads $9 Million Round in Latin American Stablecoin App El Dorado

Paradigm has led a roughly $9 million round in El Dorado, the stablecoin-powered payments app that has signed up more than a million users across Latin America. The bet extends the venture firm’s push into dollar-rails for emerging markets.

Paradigm has led a roughly $9 million funding round in El Dorado, a stablecoin-powered payments application built for Latin America. The deal pushes one of crypto’s largest venture firms deeper into dollar-rails for emerging markets.

The round was reported by The Block, which said Paradigm led the financing of about $9 million. El Dorado runs a peer-to-peer marketplace and payments app that lets users in the region buy, hold and send digital dollars, mostly the Tether stablecoin USDT. The company says its SuperApp has crossed one million users and connects stablecoins to dozens of local payment channels.

El Dorado targets a region where access to US dollars is constrained by capital controls, inflation and thin banking coverage. Its app links USDT and other dollar tokens to local rails across Argentina, Bolivia, Brazil, Colombia, Panama and Peru, letting users move value between bank apps, cash networks and digital wallets. The company wound down its Venezuela operations earlier, though Venezuela had been one of its strongest markets.

What El Dorado Built

The product started as a peer-to-peer exchange and has expanded into a broader payments stack. Its El Dorado Pay feature handles instant transfers between users, and the app routes settlement through USDT on Arbitrum to cut transaction costs. Tether and Mountain Protocol’s USDM are the dollar tokens it leans on most.

El Dorado raised a $3 million seed round in 2024 led by Multicoin Capital, with Coinbase Ventures, UC Berkeley SkyDeck and Awesome People Ventures participating.

Paradigm’s Emerging-Markets Tilt

The El Dorado check fits a pattern at Paradigm. In December the firm made its first Brazil investment, putting $13.5 million into Crown, a startup issuing a Brazilian-real stablecoin for institutions.

The firm has also been writing checks across crypto payments and DeFi more broadly. This month it co-led a $175 million round in lending protocol Morpho alongside a16z Crypto and Ribbit Capital, one of the largest fundraises in DeFi history.

A Crowded LatAm Dollar Race

Latin America has become a testing ground for stablecoin payments as established remittance and card networks move in. Western Union made its USDPT stablecoin available on Bybit’s fiat channels in Latin America this month, and MoneyGram has signed on as an anchor remittance validator on the Tempo blockchain. El Dorado’s pitch is that a crypto-native app, rather than a retrofitted incumbent, can win the region’s everyday dollar flows.

Paradigm and El Dorado have not published their own statements on the financing. The round’s full investor list, valuation and the use of proceeds were not detailed in The Block’s report.

Bitcoin Price And Crypto Stocks Surge As Iran Ceasefire, Strategy’s $100M Buy Collide With Fed Week

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Bitcoin Price And Crypto Stocks Surge As Iran Ceasefire, Strategy’s $100M Buy Collide With Fed Week

Bitcoin price climbed to a two-week high Monday as a U.S.-Iran ceasefire removed one of the market’s most persistent macro overhangs, sending crypto-linked equities surging ahead of what traders are framing as the week’s real test: Federal Reserve Chair Kevin Warsh’s first FOMC meeting.

Bitcoin price traded near $67,000 up 4% in 24 hours, after Iran confirmed a memorandum of understanding reopening the Strait of Hormuz. The price broke through $64,000 resistance on thin weekend liquidity before consolidating into Monday’s New York open.

But Nansen Research Analyst Nicolai Sondergaard urges caution about reading too much into the headline move. 

“The ceasefire news pushed Bitcoin to $66,000 on thin weekend liquidity, but traders who have been burned twice already this year are not fully redeploying yet,” he wrote to Bitcoin Magazine. “The April deal collapsed, and U.S. strikes broke a second truce on June 9, with Bitcoin giving back the entire relief move both times. The market is treating June 19 in Switzerland as the real timestamp, not Sunday’s headlines.”

Strategy buys again

Strategy (MSTR) disclosed a fresh 8-K Monday showing it acquired 1,587 BTC for roughly $100 million between June 8 and June 14, funded through its at-the-market stock offering program, bringing total holdings to 846,842 BTC. 

Shares gained more than 9% on the news, pushing intraday volume to 16.84 million shares. 

Strive (ASST), the Bitcoin treasury company chaired by Vivek Ramaswamy, rose nearly 16% to $17.50 — continuing a recovery from its three-month low of $9.00 in early April. Other stocks like Coinbase, Robinhood, and Circle all jumped over 5%. 

The rally in crypto equities reflects something Austin Federa, co-founder of DoubleZero has observed on the ground. 

“Institutions love crypto,” Federa said. “I’ve never seen more excitement from bankers and suits. You wouldn’t know it’s a bear market talking to them.”

The bitcoin price structure debate

Despite the green screens, analysts at Bitfinex see danger in mistaking relief for demand. “What the tape shows is seller exhaustion arriving at the same moment as a macro reprieve, which is a different condition from genuine demand,” the firm’s analyst team wrote to Bitcoin Magazine. “The price action that follows each behaves very differently, which leads us to believe that despite the short-term recovery, bulls face significant hurdles before an uptrend can form.”

Bitfinex identified the conditions for a durable bid: “We believe that we have a temporary bottom with multiple confluences like correlated assets drifting higher, large liquidations causing a funding and open interest reset and spot seller exhaustion with macro reprieve at the moment. However, the two major spot buyer complexes in ETFs and Treasury/DAT companies need to turn positive for BTC to catch a sustained spot bid.”

ETF data offers mixed signals. Bitcoin spot ETFs recorded five consecutive weeks of net outflows totaling nearly $1.8 billion before June 12 broke the streak with $85.85 million in net inflows, led by BlackRock’s IBIT at $57.69 million and Fidelity’s FBTC. 

One positive session does not confirm a reversal in bitcoin price, but it is the first sign that institutional buyers may be starting to re-engage.

The Fed is an upcoming catalyst

The geopolitical relief trade is real, but Sondergaard and Bitfinex both point past it to the FOMC as the market’s defining variable this week. June 16–17 marks Kevin Warsh’s first meeting as Fed chair. Inflation ran at 3.8% in April, rate cuts are no longer in the conversation, and some officials have begun floating the prospect of hikes later in the year. 

The Fed is widely expected to hold at 3.50%–3.75%, but the updated dot plot and Warsh’s first press conference will signal which direction the Committee leans, and as a result, bitcoin price.

Bitfinex framed the Iran deal as a transmission mechanism, not a standalone catalyst: “If the truce holds, oil retreats, the energy-led component of inflation fades, real yields and inflation breakevens ease, and the dollar’s safe-haven bid unwinds. That same chain is the clearest near-term tailwind for gold and Bitcoin.” 

But the firm flagged timing as the key variable: “The agreement lands the day before the FOMC meets, the first meeting chaired by Kevin Warsh. A credible supply normalization gives the Committee cover to treat May’s spike as transitory and hold, rather than tighten into a headline print above target.”

For crypto bulls, the bull case requires the ceasefire to hold, Warsh to deliver a neutral-to-dovish signal, and ETF inflows to string together consecutive positive sessions. None of those outcomes are guaranteed. 

This is exactly why Bitcoin price remains, as Bitfinex put it, “trapped in the consolidation zone between these two critical levels, where it must either establish a durable support base or face a potential breakdown into a deeper leg lower.”

BitMine Nears 5% of ETH Supply With $10B Holdings Despite Bear Market

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BitMine Nears 5% of ETH Supply With $10B Holdings Despite Bear Market

BitMine Immersion Technologies continued to expand its Ether holdings last week, acquiring more of the second-biggest digital asset despite a prolonged market downturn as its large staking operation continues to generate yield.

On Monday, the crypto treasury company reported that it acquired 76,881 Ether (ETH) over the past week, potentially reducing its average cost basis as ETH briefly plunged below $1,600 during the period. The company has been steadily acquiring Ether during the bear market, regardless of price action.

BitMine now holds 5,620,754 ETH acquired at an average price of $1,718.

BitMine is sitting on large unrealized losses on its ETH holdings. Source: DropsTab

At current prices, the company’s ETH portfolio is worth roughly $10.2 billion, though it is sitting on an unrealized loss of nearly $9 billion, according to DropsTab data. At last look on Monday, Ether was trading at $1,843.69, according to CoinMarketCap data.

Bitmine’s latest purchases brings the company closer to its stated goal of owning 5% of Ether’s total circulating supply of 120.68 million tokens. The company currently controls approximately 4.66% of all ETH.

At the same time, BitMine has staked more than 4.1 million ETH, worth roughly $8.1 billion at current prices. Staking allows the company to earn protocol rewards by helping secure the Ethereum network, providing a recurring source of yield even during periods of price weakness.

Related: Ethereum can quantum-proof accounts for just 7 cents, says Ethereum’s Kohaku lead

Ethereum faces structural headwinds

The crypto treasury model has come under pressure this year as digital asset prices retreated sharply. The downturn has also weighed on spot Ether exchange-traded funds (ETFs), which recorded four consecutive days of net outflows last week. 

Selling pressure has persisted since early May, with daily net outflows exceeding $60 million on several occasions.

BlackRock’s iShares Ethereum Trust ETF (ETHA) remains the biggest US-traded ETH ETF, with net assets of $4.75 billion. It holds 2.36% of the crypto’s circulating supply.

ETH’s decline has coincided with large outflows from spot ETFs. Source: SoSoValue

For Ethereum, however, the challenges extend beyond price action.

The network’s layer-2 scaling strategy, designed to deliver faster and cheaper transactions, has come under scrutiny. As more activity migrates to layer-2 networks, the Ethereum mainnet captures less transaction-fee revenue and burns less ETH, potentially weakening its deflationary dynamics.

Internal changes at the Ethereum Foundation have added to the uncertainty. At least nine senior leaders, researchers and core contributors have departed the nonprofit so far this year, marking one of the largest waves of talent attrition in its history. The departures have coincided with the foundation’s organizational overhaul and renewed community debate over its governance, strategic direction and role in Ethereum’s long-term development.

Related: Crypto Biz: Nobody told Saylor ‘never sell’

BitGo Joins Fortune 500 With $16.2B Revenue, Marking Milestone For Regulated Bitcoin Infrastructure

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BitGo Joins Fortune 500 With $16.2B Revenue, Marking Milestone For Regulated Bitcoin Infrastructure

BitGo Holdings, Inc. (NYSE: BTGO) has been named to the 2026 Fortune 500, becoming the first true digital asset infrastructure company to reach the list. The debut comes just five months after the company went public on the New York Stock Exchange in January 2026, with reported revenue of approximately $16.2 billion for 2025.

The 2026 Fortune 500 edition, which features President Donald Trump on the cover and is on sale now, includes BitGo at No. 273. BitGo also appears in related coverage, while CEO Mike Belshe is slated for prominent placement in the upcoming Fortune Crypto 100 list in August, including feature coverage and limited cover variants. 

While miners, major exchanges, and treasury-focused companies have gone public in recent years, BitGo stands out as the first dedicated infrastructure provider — focused on custody, wallets, settlement, and related services — to achieve Fortune 500 status so quickly after its public listing.

Background and Evolution

BitGo was founded in 2011 by Mike Belshe, its current CEO, alongside Bill Lee, Ben Davenport and Will O’Brien. It began as a provider of secure Bitcoin wallets and institutional-grade custody solutions, emphasizing multi-signature technology and enterprise security at a time when few reputable options existed for large holdings.

Over more than a decade, the company grew into one of the most recognized names in digital asset infrastructure, powering wallets, custody, trading, and operations for many prominent platforms, funds, and institutions in the Bitcoin and broader crypto industry.

Current Operations and Regulatory Standing

Today, BitGo functions as a full-stack infrastructure provider. It operates as BitGo Bank & Trust, National Association, a federally chartered national trust bank under the Office of the Comptroller of the Currency (OCC). This designation, approved in December 2025, imposes stringent federal requirements — including enhanced capital standards, regular audits, comprehensive risk management, and fiduciary oversight — while delivering significant strategic advantages.

The OCC charter provides uniform federal supervision and regulatory clarity, replacing fragmented state-by-state licensing in many cases and offering institutions the certainty they expect from a federally regulated fiduciary. It enables nationwide service capabilities with federal preemption of certain duplicative state requirements. 

Nick Payton, VP of Marketing at BitGo, told Bitcoin Magazine that the OCC federal charter, combined with being a public company, unlocks regulatory clarity sought out by institutional clients. “We spent the money and made sure to take that burden off of our clients.” Payton also described the OCC federal charter as a moat that software alone can not easily unlock, even with the power of artificial intelligence.

Finally, the OCC federal charter also strengthened the company’s ability to expand services such as stablecoin infrastructure, staking from cold custody, Prime trading and derivatives, and tokenization activities under a clear federal framework, positioning BitGo as a key bridge between traditional banking rails and digital assets.

Its client base is primarily institutional, including exchanges, funds, and Bitcoin ETF issuers. Notable examples include 21Shares (custody for Bitcoin ETFs), Fold (which relies on BitGo infrastructure for core operations), World Liberty Financial (custody and infrastructure for its USD1 stablecoin), and SoFi (infrastructure and distribution support for SoFiUSD, positioned as the first U.S. national bank-issued stablecoin on a public blockchain).

High-net-worth individuals also use the platform for qualified custody, staking from cold storage, and Prime services. While some retail-facing tooling exists through the broader platform, BitGo has maintained a deliberate focus on institutional and sophisticated clients rather than becoming a mass-market retail platform.

Prime Services and Global Footprint

BitGo has expanded its Prime desk to include OTC trading, electronic trading, and derivatives, which recently came online. This allows clients to access liquidity, execute strategies, and manage collateral directly from qualified custody. The service supports operational needs such as loans against Bitcoin holdings or yield generation without moving assets off-platform.

The company operates globally across more than 100 countries. It maintains regulated licenses and entities in key regions, including a VARA license in Dubai, an office in London, a Latin America headquarters in Mexico City, and an APAC base in Singapore, according to Payton.

Revenue Drivers

Payton also outlined the company’s primary revenue contributors today, which are primarily made up of custody fees, the company’s bread and butter, alongside other growing revenue sources like BitGo Prime, encompassing OTC, e-trading, and the newer derivatives offering.

Staking of crypto assets also made the short list of top revenue drivers for the company, enabling clients to earn yield on assets such as Ethereum and Solana while keeping them in cold custody.  Finally, Stablecoins have become a rapidly expanding segment of company revenue via their Stablecoin-as-a-Service platform, which handles minting, burning, and custody. Recent examples include support for World Liberty Financial’s USD1, which Payton described as one of the fastest-growing stablecoins, approaching significant circulation, and SoFi’s SoFiUSD with an initial mint of $150 million and plans to scale.

Payton also shared that “Bitcoin has always driven significant volume at BitGo. But Ethereum, Solana, and stablecoins are also prominent.” He added: “One major point we’ve never discussed publicly is that we’re among the top 10 largest entities holding Bitcoin globally, with over 470k BTC in custody,” making Bitgo one of the largest Bitcoin custodians in the world. For its own corporate treasury, BitGo Holdings, holds approximately 2,449 BTC as of the most recent public disclosures, this ranks BitGo as having the 32nd largest corporate treasury holdings in the world. 

Outlook on Tokenization

As for current areas of focus, Payton expressed clear enthusiasm for “tokenization,” a commonly heard though somewhat elusive term in the industry. He framed it as the cryptographic representation of traditional assets — particularly public and private equities — on blockchain infrastructure. 

“We are excited about the future of tokenization. We think it’s going to bring broader access to a wider range of people in public markets. We’re also looking into tokenizing private companies as well, traditional equity, not just public.” Payton said, cautioning that “It has to be done carefully. And safely. We don’t want it to turn into a bubble. It has to be done responsibly.”

Prediction Markets Are Becoming Crypto’s Fastest Growing Information Network

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Prediction Markets Are Becoming Crypto’s Fastest Growing Information Network

Most people believe that crypto’s most important innovation is creating new ways to trade assets, but today, one of the industry’s fastest-growing sectors is focused on something different – trading information.

Prediction markets have rapidly evolved from a niche ecosystem into a multi-billion-dollar one where traders express views on everything from elections, macroeconomic events, geopolitics, sports, technology, and global news. Platforms like Polymarket have demonstrated that markets can often aggregate information faster than traditional media, social networks, and even expert forecasts.

What makes prediction markets unique is that participants aren’t simply sharing opinions—they are putting capital behind their beliefs. 

Every trade represents a belief about the future, every price movement reflects changing expectations, and every probability shift is a signal.

As adoption grows, prediction markets are increasingly functioning as real-time information networks, continuously processing new developments and translating them into market-implied probabilities. In many cases, the market’s reaction to an event becomes just as important as the event itself.

However, this evolution is creating a new challenge for traders. Whereas previously, the problem was access to markets, now the problem is understanding them.

A single market can be influenced by breaking news, whale activity, narrative shifts, sentiment changes, and cross-market positioning across multiple venues. While prediction markets excel at producing probabilities, they often provide little context around why those probabilities are moving.

This is where a new category of infrastructure is beginning to emerge.

Kelvon is building an intelligence layer for prediction markets, helping traders track probability shifts, identify market mispricings, monitor whale activity, and understand the narratives driving market behavior across platforms.

Rather than simply showing odds, Kelvon helps answer deeper questions:

  • What just became more likely?
  • Why did the market move?
  • Has the market fully repriced new information?
  • Where do different markets disagree?

As prediction markets continue their transition from niche crypto products to mainstream information networks, the demand for research, analytics, and intelligence tools will grow alongside them.

The first generation of prediction markets focused on creating liquidity, and the next generation will focus on making that information actionable.

Just as Bloomberg became the intelligence layer for traditional finance, prediction markets are creating demand for a new class of tools that help traders understand not only what the market believes, but how those beliefs are changing in real time.

The future of prediction markets isn’t simply forecasting outcomes. It’s understanding the flow of information behind them.

Source: Kelvon

The above article “Prediction Markets Are Becoming Crypto’s Fastest Growing Information Network” was first published on AlexaBlockchain. Read the complete article here: https://alexablockchain.com/prediction-markets-are-becoming-cryptos-fastest-growing-information-network/

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‘Crypto spring’ is here, says one analyst after bitcoin’s key signals turn bullish

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‘Crypto spring’ is here, says one analyst after bitcoin’s key signals turn bullish

Standard Chartered’s head of digital assets research Geoffrey Kendrick says bitcoin BTC$66,830.10 may have already put in its low for the current market cycle, arguing that a combination of improving investor flows, corporate buying and easing macroeconomic pressures points to a stronger recovery ahead.

The latest call marks a shift in sentiment after several months in which crypto markets struggled with rising geopolitical tensions, concerns about inflation and persistent outflows from U.S. spot bitcoin exchange-traded funds (ETFs.)

Last Friday, Kendrick told clients he believed bitcoin’s decline to roughly $59,000 represented the cycle low. At the time, however, he outlined three developments he wanted to see before gaining more confidence in that view: renewed bitcoin purchases by Strategy (MSTR), a return to positive ETF inflows and continued weakness in oil prices.

By Monday, all three had materialized.

Strategy, the largest corporate holder of bitcoin, disclosed that it purchased another 1,587 BTC last week. U.S. spot bitcoin ETFs posted net inflows of $86 million on Friday after a stretch of notable redemptions. Oil prices also continued to move lower, reducing concerns that higher energy costs could push inflation and bond yields upward.

If America wants to lead in crypto, it must protect the people who build it

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If America wants to lead in crypto, it must protect the people who build it

The rest of the Clarity Act depends on that guarantee, because there is no digital asset market to regulate if the people who build it cannot afford to build it in the U.S. The provision survived the committee markup intact, despite a filed amendment that would have gutted it, and it must stay in through the final vote, fully and without dilution.

Here is why this matters to people who will never read a word of the statute. The engineers who write this software, from core Solana contributors to the designers of new DeFi protocols, publish code that anyone in the world can download and use. They hold no money. They cannot freeze an account or move funds, because they never touch them. Treating a software developer like a bank teller makes about as much sense as calling an email app’s engineer a mail carrier. Treasury’s 2019 FinCEN guidance already recognized that merely providing software or network tools used by money transmitters does not, by itself, make someone a money transmitter. The BRCA aligns the criminal code with that standard.

When laws are murky, regulators and prosecutors fill the gap. Treasury has pursued builders who wrote and released software but never held a customer’s assets. The conviction of Tornado Cash developer Roman Storm for conspiring to operate an unlicensed money transmitting business is the case people know, and it fits a pattern that should worry anyone who cares about American innovation. Cases like it are already pushing developers overseas.

Bitcoin Sweeps Liquidity ‘Pockets’ Amid Doubts Over $67,000 Holding

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Bitcoin Sweeps Liquidity ‘Pockets’ Amid Doubts Over $67,000 Holding

Bitcoin (BTC) neared $67,000 at Monday’s Wall Street open as the US-Iran peace deal kept risk assets surging.

Key points:

  • Bitcoin adds to gains as US-Iran peace cues trigger broader risk-asset upside.
  • Traders do not see downside pressure as over yet, with liquidity grabs the focus on low-time frame price action.
  • Flagging demand shows signs of recovery after $60,000 holds.

BTC price eyes key liquidity “pocket” next

Data from TradingView tracked BTC price action as BTC/USD added another 1.5% since the weekly close.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Details of the Iran ceasefire agreement, set to be signed later in the week, delivered major upside to US stocks, with the S&P 500 and Nasdaq Composite Index adding up to 2.4%.

In one of his latest posts on Truth Social, US president Donald Trump reported that shipping traffic through the Strait of Hormuz oil route was already increasing.

“Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz,” he wrote.

Source: Truth Social

Among traders, opinions still differed over whether Bitcoin would continue higher or abort its latest relief bounce.

“This week is shaping up to be very interesting,” trader Killa told X followers, eyeing a rejection above $67,000.

BTC/USD four-hour chart. Source: Killa/X

Trading account JDK analysis argued that it was “still too early to call” a reliable BTC price bottom.

“Now we’re also seeing a break of major resistance and acceptance back into previous value, opening the door for a larger move to the upside,” it wrote on the day. 

“That said, strong bottoms take time. I still expect more chop, and there is still a major pocket of untapped liquidity below that shouldn’t be ignored.”

BTC/USDT one-week chart. Source: JDK Analysis/X

Bitcoin order-book liquidity remains thin

Commentator Exitpump continued that it was “easy” to push the price higher thanks to thin order-book liquidity both above and below.

Related: Can BTC rebound to $69K as oil price plunges? Five things to know in Bitcoin this week

The latest data from CoinGlass showed BTC/USD sweeping short liquidations around the US open.

BTC liquidation heatmap. Source: CoinGlass

Commenting on liquidity, onchain analytics platform Glassnode flagged “supportive” conditions on options markets.

“$BTC has bounced and is now pushing back into a dense cluster of options positioning near $65K. As price moves into these zones, dealer hedging flows can become more supportive, helping stabilize the market after a period of elevated volatility,” it wrote on X.

Bitcoin options strike heatmap. Source: Glassnode/X

A separate post noted that overall demand appeared to be returning after Bitcoin’s trip to $60,000.

“Accumulation Trend Scores have turned higher across multiple wallet cohorts, suggesting supply is being absorbed as investors step in following the move to down $60K,” Glassnode added.

Bitcoin accumulation trend score data. Source: Glassnode/X

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