Bitcoin climbed toward the $70,000 mark after U.S. markets opened Monday, diverging from broader U.S. equities as traders balanced improving macro data against lingering geopolitical concerns. TradingView showed BTC/USD rising more than 5% early in the session, with Bitstamp printing a high near $69,788 — the strongest level since midweek — while Ether also moved higher to start the week.
Market participants attributed part of the move to firmer U.S. manufacturing data: the Institute for Supply Management’s manufacturing PMI came in above 50, signaling a return to expansion after roughly three years of contraction. Observers, including analyst Nik Bhatia, said the PMI and stronger prices paid supported risk appetite and helped lift crypto prices.
Traders also noted a diminished sell-side influence from major exchanges such as Binance, suggesting that even when large sell orders appear, they are having less impact on prices than in prior cycles. That changing market structure was cited as another factor behind the sharp early-week advance.
Despite the rally, many market watchers urged caution. Analysts highlighted the $69,000 area as a key resistance zone and warned the recent move could form a bear-flag on daily charts. Momentum indicators such as RSI and MACD showed some divergence from price, leading some traders to remain skeptical and to keep lower targets — one noted $52,000 as a potential downside scenario.
Research firm Material Indicators flagged parallels with the 2022 bear market through its proprietary tools. Its Trend Precognition signals appeared bullish on monthly charts in a way similar to March 2022, but the team cautioned that fresh geopolitical shocks, tariff uncertainty, or U.S. political volatility could overturn the positive signals. Cofounder Keith Alan said reclaiming $69,000 would be the first step toward a sustainable recovery, with the next resistance near $71,300 and a need for bulls to clear ask liquidity around $70,000 to push higher.
This summary is for informational purposes only and not investment advice. All trading involves risk; readers should perform their own research before making financial decisions.