Bitcoin price news: BTC modestly bounces after weekend tumble
Bitcoin recovered to $72,100 after a weekend dip to $70,500, influenced by potential Iranian concessions and a U.S. blockade.Summary
Bitcoin has shown a modest recovery, trading at $72,100 after falling to a low of $70,500 over the weekend. This rebound appears to be linked to reports that Iran might abandon uranium enrichment as a strategy to end the ongoing war. The U.S. stock market also saw a reversal of early losses, with the Nasdaq turning positive. Meanwhile, the U.S. blockade of the Strait of Hormuz has reportedly gone into effect, with Iran's military issuing a stern warning about regional security. Crypto-related stocks, including Circle, Coinbase, and MicroStrategy, are also trading higher. Bitcoin has been consolidating for 67 days since its February low, a period similar to a previous consolidation that preceded a significant price drop, leading some bears to anticipate a retest of the 200-week moving average around $60,000. Separately, a large transfer of XRP to a Coinbase-linked address has raised speculation about potential selling or rebalancing by major holders.
(Source：CoinDesk)