Key Takeaways:
On April 15, bitcoin retreated below $74,000 after failing to hold its $76,000 resistance level. Bitfinex says Strategy’s STRC-funded purchase of 13,927 BTC created a mechanical supply squeeze. A spot-led daily close above $75,000 is needed to confirm a breakout beyond the $71,000 range. Geopolitical Sentimentbn_article_selector]
Bitfinex analysts warned this dynamic is approaching its limit but asserted that a spot-led daily close above $75,000 “will confirm the durability of this leg beyond the STRC pause.” Conversely, a rejection at this level would quickly send the market back into the $70,000 to $71,000 range, the analysts explained.
