Bitcoin Reclaims $75K as Markets Eye Ceasefire Talks and Key Resistance Levels

Bitcoin (BTC) has climbed back above the $75,000 mark, trading near $75,980 as improving geopolitical sentiment boosts risk assets. The cryptocurrency gained roughly 1.5% in the past 24 hours and 1.7% over the week, supported by news that Iran will send a delegation to Pakistan for another round of ceasefire negotiations. This development has helped stabilize global markets and renewed investor appetite for crypto assets.

Altcoins also moved higher, with Ethereum (ETH) rising to around $2,310, XRP advancing to $1.43, and BNB hovering near $630. Solana (SOL) lagged slightly compared to other top cryptocurrencies, posting modest gains daily but remaining down on a weekly basis. Meanwhile, global equities continued their upward momentum, as the MSCI All Country World Index extended its rally, led by strong performance in Asian tech stocks.

Despite the rebound, Bitcoin has underperformed equities during this recent cycle. One key factor is persistent negative funding rates in Bitcoin perpetual futures, which have remained below zero for over 40 days—the longest stretch since the 2022 FTX collapse. This indicates continued bearish positioning among traders even as prices recover.

Institutional demand remains a bright spot, with spot Bitcoin ETFs attracting nearly $1 billion in inflows last week, while Ethereum ETFs also saw significant capital entry. Analysts suggest that a decisive break above $76,000 could trigger a short squeeze and open the path toward $85,000.

On-chain data presents mixed signals. Bitcoin mining companies sold a record 32,000 BTC in the first quarter, reflecting ongoing pressure on profitability. Although mining difficulty has slightly decreased and hashrate is recovering, sustained price growth may depend on the market’s ability to absorb continued miner selling.

In the short term, traders are closely watching geopolitical developments and the upcoming ceasefire deadline, which could determine whether Bitcoin pushes higher or retreats below $74,000.