finance
Bitcoin Holds Above $75,000 as Major Cryptocurrencies Trade Sideways Amid US-Iran Meeting Delay
Bitcoin remained above $75,000 while trading sideways alongside Ethereum, XRP, and Dogecoin following a delay in a U.S.-Iran meeting. Recent data showed significant trader liquidations and positive ETF inflows. Analysts offered varied perspectives on market cycles and trends.
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-Iran meeting. 11% drop. 39%.
-Iran meeting, Benzinga reported. 09 million, according to Coinglass data. 8 million, based on SoSoValue figures.
Top gainers over the past 24 hours included RaveDAO, MemeCore, and JUST. Quantitative trader KillaXBT stated that Bitcoin is still viewed as being in a mid-bear market cycle, roughly 212 days into its current phase. He suggested that downside pressure could extend into the second or third quarter, with a potential cycle bottom still several months away if past behavior repeats.
Analyst Ted Pillows pointed to the seasonal trend known as 'sell in May and go away,' noting that Bitcoin sometimes mirrors equity market seasonality during mid-cycle phases. He added that while this pattern has appeared in previous cycles, its reliability in crypto is inconsistent and should not be treated as a certainty.
Trader Jackis said the price continues to hold above key trendlines and has invalidated several bearish technical patterns, including prior wedge breakdown scenarios and fractal-based bearish comparisons.
Jackis emphasized that the current trend bias remains positive unless major support levels are decisively broken.
