<\/p>\n
Bitcoin retreated from an eight-month high Tuesday in Asia after a dizzying rally that saw it surge more than 13% in four days.<\/p>\n
The original cryptocurrency eased to around $85 500 in early Singapore trading from as high as $87,381 in the US session, still up around $10 000 from last week\u2019s lows after crypto joined a broad rebound in risk assets including stocks. Bitcoin is back at late-January levels but remains well below its record of $126 000 set in October.<\/p>\n
\u201cThe rapid move back through $80,000 has traders believing the bear phase is over; momentum is bringing sidelined capital back in, so the path of least resistance is higher,\u201d said Rich Rosenblum, co-founder of crypto market maker GSR. \u201cThe risk is that this is a macro liquidity trade wearing a crypto costume. If so, a risk-assets wobble\u00a0would put Bitcoin under significant pressure.\u201d<\/p>\n
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Digital assets have brushed off last week\u2019s failure of landmark US legislation that would have established clearer industry regulation and the Federal Reserve\u2019s first interest-rate increase in more than three years. A green light on Thursday from the Securities and Exchange Commission for blockchain-based versions of securities to start trading in the US brightened the mood, sending\u00a0related tokens soaring.<\/p>\n
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Falling oil prices and optimism ahead of a summit between US President Donald Trump and China\u2019s Xi Jinping have buoyed markets more broadly.<\/p>\n
Liquidations of long and short positions across digital assets have climbed to more than $1 billion over the last 24 hours, with short bets accounting for about $840 million of that, according to data compiled by Coinglass.<\/p>\n
\u201cIt looks like mechanics before conviction. Bitcoin cleared the top of its September range into a dense band of short liquidation levels, and forced buying did the rest,\u201d said Rachael Lucas, an analyst at BTC Markets. \u201c$84 000 is the level that matters. It was the breakout, and it should now hold as the floor if this is a regime change rather than a short squeeze.\u201d<\/p>\n
Bitcoin open interest on the options trading platform Deribit was heavily dominated by calls, signaling bullish sentiment. The platform showed nearly 320 000 contracts for the right to buy the token compared with over 169 000 for puts, or the right to sell.<\/p>\n
Other positives lifting sentiment around Bitcoin are big inflows into spot US exchange-traded funds at the end of last week and Michael Saylor\u2019s Strategy Inc. \u2014 the largest corporate holder of Bitcoin \u2014\u00a0purchasing the token\u00a0for the first time in three weeks.<\/p>\n
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Still, headwinds remain, with crude oil at around $100 a barrel and US Treasury yields elevated, though falling.<\/p>\n
Bitcoin is still off its 2026 high of over $97 000 in mid-January, and retail enthusiasm has proven hard to rekindle as artificial intelligence stocks and other AI-linked trades compete for the same pool of speculative capital.<\/p>\n
\u201cFor most of this year crypto was the forgotten macro trade, it lagged equities and gold while capital and attention moved to AI,\u201d said Rosenblum. \u201cWhat\u2019s changed is positioning, not fundamentals: Bitcoin was under-owned and leaning short.\u201d<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Bitcoin #retreats #eightmonth #high #dizzying #rally<\/p>\n","protected":false},"excerpt":{"rendered":"
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