The cryptocurrency market started the week with the recovery of key levels, and Bitcoin again tested the $70 thousand mark, which was the first such movement in the last week and a half.
By mid-day, the asset held around $69.7 thousand, demonstrating moderate growth and confirming the preservation of the upward momentum after a preliminary phase of consolidation. The local maximum of the session reached $70.250 th., which signals the return of buyers’ interest to the market.
Quotes are supported by general news background, including discussion of possible de-escalation in the Middle East. Potential negotiations on a temporary ceasefire are perceived by the market as a factor in reducing global risks, which is traditionally favourable for risky assets, including cryptocurrencies.
At the same time, geopolitical uncertainty remains, which keeps volatility at an elevated level. An additional factor is the reduced liquidity due to the Easter weekend in Europe and Asia, which increases the amplitude of fluctuations, but does not change the overall picture of gradual recovery.
As a result, the market is demonstrating restrained optimism: current levels act as a balancing zone, where the base for further movement is being formed. If the macro background remains neutral or improves, Bitcoin may consolidate above $70 thousand and continue to move to new local highs, while negative signals may return the asset to the consolidation range without breaking the medium-term trend.