Bitcoin’s price stabilized near $67,000 amid a quiet Easter weekend, following a week of significant volatility. Analysts anticipate heightened market movements in the coming week, coinciding with geopolitical deadlines and the reopening of traditional financial markets. The broader crypto market remains watchful of potential impacts from ongoing international tensions.
Bitcoin traded sideways over the past 24 hours, showing a minor increase to just over $67,000. This follows a volatile period where the cryptocurrency dipped to a monthly low of $65,000 before surging to $69,200 and then retreating.
Analyst Michaël van de Poppe noted the extremely low market volatility and expects it to return next week. “I think that we’ll have a slow Easter and then the volatility comes back again next week before we start to accelerate into either direction,” he stated.
Geopolitical developments are seen as a potential catalyst for market movements. Former President Donald Trump issued a warning, giving Iran 48 hours to reopen the Strait of Hormuz.
The deadline expires on Monday, shortly after Wall Street reopens for trading. This timing is highlighted as a factor likely to influence volatility.
Trump previously mentioned that the U.S. would begin targeting Iran’s “bridges next, then power plants.” He also suggested the U.S. could “easily open the Straight of Hormuz, take the oil, and make a fortune.”
Consequently, analysts from The Kobeissi Letter noted that April is “going to be a highly eventful month.” They indicated the conflict will continue, with critical energy infrastructure being a potential next target.
