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Bitcoin returned to $83,500 and updated its weekly high, the crypto market gained 3.1%

In 24 hours, BTC gained about 2.4% and rose to $83,500 - a weekly high. The rebound follows last week's decline, when crypto tumbled along with Nasdaq on a hot US inflation report.

Bitcoin returned to $83,500 and updated its weekly high, the crypto market gained 3.1%

What matters in 30 seconds

30 SEC
  • 01

    In 24 hours, BTC gained about 2.4% and rose to $83,500 - a weekly high.

  • 02

    According to CoinDesk, BTC - $83,355, ETH - $2,458 (+3.2%), XRP - $1.36 (+4.7%), SOL - $106.75 (+2.6%).

  • 03

    The composite CD20 index (20 largest cryptocurrencies) rose 3.1%.

  • 04

    The derivatives market came alive: futures turnover in 24 hours $190 billion (+19%), open interest (the sum of all open positions) $145 billion (+4%), liquidations (forced closure of leveraged positions) $284 million (+76%).

  • 05

    A return above $84,000 removes it.

According to CoinDesk, BTC - $83,355, ETH - $2,458 (+3.2%), XRP - $1.36 (+4.7%), SOL - $106.75 (+2.6%). The composite CD20 index (20 largest cryptocurrencies) rose by 3.1%.

The reason - a reversal in tech stocks. The Korean Kospi closed +3.29%, Nasdaq 100 futures rose by 0.4%, S&P 500 - by 0.2%. SpaceX shares jumped 9% before the market opened: the report came in noticeably above forecasts thanks to artificial intelligence and satellite internet segments. Plus the news that Anthropic may invest $750 billion in computing capacity removed some of the fears about overheated AI spending.

A separate story: SpaceX and Tesla have created special committees to discuss a merger, Elon Musk confirmed this. The combined holdings of the two companies - more than 30,000 BTC worth about $2.5 billion.

The derivatives market has come alive: futures turnover in 24 hours $190 billion (+19%), open interest (the sum of all open positions) $145 billion (+4%), liquidations (forced closure of leveraged positions) $284 million (+76%).

Simon-Peter Massabni, head of business development at XS.com, calls $82,500 the most important support: a sustained break below opens the way to $70,000 - that's minus 15% from current levels, market maker Wintermute's scenario. A return above $84,000 cancels it. He also notes that BTC's correlation with tech is strengthening, and this calls into question Bitcoin's role as an independent defensive asset. The backdrop remains nervous: Brent has crossed above $110 after attacks near the Strait of Hormuz, and on Wednesday after the US close Meta and Tesla report earnings.

Caught the bounce - but how much did it give you?

A familiar night: the chart reverses, you read everything correctly, the entry is perfect - and in the end the sum is worth a couple of coffees. A move of 2.4% only becomes money through position size; entry precision is secondary here. In prop trading, the trading capital is provided by the company: first it tests your trading on a paid evaluation account, then it opens access to its nominal capital and shares the profit. It makes more sense to understand this mechanic before the next surge from support, not after it.

КАК ПОЛУЧИТЬ ДОСТУП К БОЛЬШЕМУ ТОРГОВОМУ НОМИНАЛУ?

ЗАПРОСИТЬ ПРОМОКОД

Source: CoinDesk0 views
Bitcoin returned to $83,500 and updated its weekly high, the crypto market gained 3.1% | PropMarketCap