Bitcoin’s move toward reaching a high level over the past month has become increasingly noticeable. It has risen to just under $73,000, and the outlook is now one that appears to be testing the $72,000 level set in early February. With geopolitical tensions continuing, it seems the impact of an accelerated shift of funds into safe-haven assets is significant. During the same period, gold rose by 1.8%, silver rose by 5.3%, and Bitcoin also recorded a 4.8% gain.

The altcoin market is also starting to show a response. Breaking out of the stagnation that has lasted nearly a month, coins such as TAO and AERO have reached rises of more than 5%. The lower the token’s market capitalization, the larger the move, and it feels like a gradually bullish mood has begun to spread across the broader market. The Fear and Greed Index has also risen to 19, clearly indicating a shift away from the extreme bearishness seen in February.

The derivatives market is also active. The open interest in crypto assets futures has increased by 8% to reach $103 billion, signaling that interest in holding positions has returned. The funding rate for Bitcoin and イーサ has turned positive, indicating that buy pressure is building. However, put options have continued to trade above call options, and caution about downside risk is still strong.