Bitcoin $71K as dollar and oil slip on Trump’s Iran
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- Bitcoin rose to $71,000, up about 3.9% since midnight UTC after Donald Trump suggested the Iran war could end "very soon."
- Dollar Index (DXY) fell to 98.5 from a recent high of 99.7, reflecting the dollar retreat following Trump's remarks.
- Ethereum reclaimed the $2,000 level, moving higher alongside Bitcoin.
- Open interest in BTC and ETH futures rose more than 5%, outpacing spot price gains and indicating fresh capital inflows.
- Protective puts on BTC and ETH remain pricier than bullish calls across all time frames, signaling potential volatility if Bitcoin climbs above $75,000.
- Altcoins such as Solana's JUP and ETHFI posted double‑digit gains, while the memecoin index lagged with only a 2.6% rise.
- Bitcoin remains in a broader downtrend since early October and would need to climb toward $98,000 to reverse the pattern.
Why it matters: Crypto investors captured a near‑3.9% overnight gain as the dollar retreated, but the rally sits atop a sustained downtrend that still requires a climb toward $98,000 to reverse, meaning the upside is limited and risk remains for traders betting on a breakout.
