ChainCatcher News: Singapore-based crypto investment firm QCP Capital pointed out that after Kevin Woorh was officially confirmed as the next Federal Reserve Chair, Bitcoin dropped below the $80,000 support level on Saturday, reaching a low of $74,500, while Ethereum also fell below $2,170. A new round of deleveraging occurred in the market, with over $2.5 billion in long leverage positions being liquidated. Coupled with continuous outflows of ETF funds, market sentiment was further dampened.
Risk aversion sentiment continued to spread after Woorh’s appointment, affecting the stock market and extending to traditional safe-haven assets. Gold and silver prices continued to decline as investors reassessed Woorh’s policy path under his leadership. Expectations for policy normalization or tightening increased, weakening demand for interest-free precious metals. Futures exchanges raised margin requirements, accelerating the liquidation of leveraged positions. Bitcoin currently holds support above $74,500, a level that coincides with the technical lows of the 2025 cycle.
Options market signals remain cautious, with a clear skew towards put options. However, compared to the extreme levels during Bitcoin’s decline from $107,000 to $80,500 in November last year, current hedging demand has eased, possibly reflecting investors positioning for a short-term bottom. Nonetheless, market momentum remains weak, with upward movement constrained by recent resistance levels. The future trend largely depends on whether the $74,000 support can be maintained.
If it breaks below, a deeper correction could be triggered; if it recovers above $80,000, it could help normalize volatility and options skewness. The market is watching whether institutions are re-accumulating positions near the $76,000 average cost, as well as geopolitical risks and Federal Reserve policy signals.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTQ Technologies releases quantum bitcoin mining research: actual costs are extremely high, and the real risk lies in a signature vulnerability
BTQ Technologies publishes a research paper assessing the physical costs of quantum computing in Bitcoin mining, emphasizing that Bitcoin’s main risk comes from vulnerabilities in cryptographic signatures rather than quantum mining. The study proposes an open-source resource estimation model that covers key computational steps.
GateNews12m ago
Strategy: Last week, it increased its holdings by 4,871 BTC, spending $329.9 million
Gate News message, April 6, Strategy’s official disclosure said the company increased its holdings last week by 4,871 BTC at an average price of about $67.72k per coin, for total spending of approximately $329.9 million. As of 2026, Strategy has accumulated holdings of 766,970 BTC, with a total position cost of about $58.02 billion, and an average holding price of about $75.64k per coin.
GateNews18m ago
Forecast market activity: March transaction count year-over-year grew 2,838%, and it’s a geopolitical risk monitoring tool that is correlated with BTC price movements
Sygnum Bank’s chief investment officer said the market is increasingly important in monitoring macro risks, especially during heightened conflict in Iran. Data show that the number of prediction market trades in March rose 2,838% year over year, and the professional trading team has incorporated it into its macro analysis framework to develop trading strategies.
GateNews27m ago
Bitcoin rises to $69,350, setting a new intraday high, as reports of US-Iran ceasefire talks boost market sentiment
Gate News news. On April 6, Bitcoin rose to $69,350 briefly in the morning on Monday, setting a new intraday high. On the news front, media reports say the U.S., Iran, and regional mediators are discussing a framework for a 45-day ceasefire agreement. In the derivatives market, the crypto market has formed a short squeeze, while both implied and realized volatility remain at low levels. The situation in the Strait of Hormuz is still the key variable.
GateNews28m ago
