Bitcoin snatched upside liquidity as the US trading session began, but traders warned over a failure to preserve BTC price gains.
Bitcoin (BTC) neared $67,000 at Monday’s Wall Street open as the US-Iran peace deal kept risk assets surging.
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.
BTC/USDT one-week chart. Source: JDK Analysis/X
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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