Bitcoin is testing $76,000 for a third day, trading at $75,440 as bullish traders continue to chip away at $450 million of sell orders between $75,900 and $76,300, CoinGlass data shows.
The orders will be placed by traders who are either attempting to short the range-high in expectation of a reversion to around $68,000, and those defending against a breakout with liquidation risk above.
U.S. equities surged to record highs on Thursday as the war in Iran appears to be winding down following a ceasefire between Israel and Lebanon.
The crypto market outperformed equities since the start of the war, and is now taking a back seat.
Derivatives positioning
- Activity in the crypto futures market has picked up, with bitcoin briefly…
