Bitcoin approached the 67 thousand dollar mark on Monday as Wall Street opened, with growing optimism about a potential ceasefire agreement expected to be signed this week between the United States and Iran fueling demand for risk assets. According to TradingView data, the BTC/USD pair gained approximately 1.5 percent after the weekly close, reflecting renewed market momentum.
Risk appetite returns alongside stocks
Developments surrounding the anticipated deal also spurred a noticeable rally in the US equity markets. Both the S&P 500 and the Nasdaq Composite Index saw gains of up to 2.4 percent during the session. This bullish atmosphere quickly extended to the cryptocurrency sphere, boosting confidence among investors.
US President Donald Trump, posting on Truth Social, highlighted that oil shipments through the Strait of Hormuz had picked up pace once more, a detail closely watched by global markets.
Donald Trump noted that ships transiting the Strait of Hormuz had started moving again, many of them carrying oil.
Caution remains above 67 thousand dollars
Despite Bitcoin’s upward momentum, market participants remain divided on whether the cryptocurrency can sustain its climb. A market commentator known as Killa remarked that this week could prove particularly significant, cautioning that any rejection above 67 thousand dollars warrants close observation.
Another analyst posting under the name JDK argued that it is still too early to call a definitive market bottom. However, JDK suggested that breaking through significant resistance and re-entering previous price zones could signal the start of a broader upward move.
Providing further insight, commentator Exitpump pointed out that weak order book liquidity—both above and below current prices—may make it easier for Bitcoin to move sharply in the short term. Data from CoinGlass also showed a wave of liquidations of short positions around the US market open, underscoring the volatility in play.
Options market and demand indicators catch attention
On-chain analytics platform Glassnode reported supportive conditions emerging in the options market. According to Glassnode, Bitcoin is revisiting a region around 65 thousand dollars where there is a high concentration of options positions. As the price moves into these zones, market makers’ hedging activities could help stabilize volatility.
Mini glossary: The options strike price specifies at what price a buyer can exercise a call or put option. Meanwhile, a heat map visualizes where the concentration of positions accumulates across different price levels.
Glassnode observed that as Bitcoin once again approaches the high-density options region near 65 thousand dollars, hedging flows from market makers in this zone may act to calm the market after spikes in volatility.
Glassnode further noted that after Bitcoin’s recent dip to 60 thousand dollars, early signs of a rebound in aggregate demand are visible. According to the platform, accumulation trend scores across various wallet segments are rising again, suggesting investors are absorbing available supply in the aftermath of the sell-off.
