Bitcoin just made a strong move, jumping 6.36% to $72,646 and briefly touching $74,000 — the highest level in about a month.
The rally didn’t happen in isolation. Markets reacted quickly after Donald Trump nominated Kevin Warsh as the new Fed Chair, someone who has previously described Bitcoin as a sustainable store of value.
At the same time, spot Bitcoin ETFs recorded $838.7M in inflows over the past three days, signaling renewed institutional appetite. Volume surged to $74.98B while Bitcoin’s market cap climbed to $1.45T, keeping dominance near 59.57% across the crypto market.
Interestingly, the Fear & Greed Index still sits at 29 (Fear). That means the rally is happening while many investors remain cautious — often the environment where strong moves begin.
From a trading perspective, $74,400 is the immediate resistance level traders are watching. If Bitcoin pushes above $75K, analysts warn it could trigger more than $500M in short liquidations, potentially accelerating the move toward $78K–$80K.
On the downside, key support remains around $71,980, with stronger structural support near $65,100.
But there is still a political risk factor. The nomination faces resistance in the Senate, and confirmation could become a battleground in the coming weeks. Markets may stay volatile as that story develops.
For now, the key question remains:
Is this the start of a larger breakout… or just the first spark before the real move?
👇 What do you think happens next for BTC?
Will $75K trigger the next short squeeze?
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