Bitcoin price news: BTC nears one-month high of $74,000
Bitcoin rose toward a one-month high of $73,800, outperforming assets since the start of the Iran war.Summary
Bitcoin surged to $73,800 in early U.S. trading, showing strong relative performance after months of lagging behind stocks and precious metals. This rally follows comments from U.S. Treasury Secretary Scott Bessent regarding efforts to cap rising oil prices. Since the Iran war began two weeks ago, Bitcoin is up about 11%, outperforming gold and broad U.S. stock indices which have lost ground. The decline in oil prices, which had raised stagflationary risks according to Fitch Ratings, is aiding the bounce. Sentiment has been poor, with perpetual futures traders showing negative funding for the longest period since late 2022, suggesting a potential short squeeze as open interest has recently risen. March is shaping up to be a turning point, as BTC is up 8% this month, potentially breaking a five-month losing streak.
(Source：CoinDesk)