Bitcoin rallied to levels not seen since early February after US PPI inflation fell well below market expectations.

Bitcoin rallied to $72,500 as US stocks reacted to US efforts to blockade the Strait of Hormuz. Despite the rebound, BTC traders warned that a price correction remains a risk.

Bitcoin preserved $70,000 at the weekly close as markets began reacting to a breakdown in US-Iran negotiations and blockade of the Strait of Hormuz.

Bitcoin price sold off as negotiations to end the US-Iran war broke down and the Strait of Hormuz returned to the spotlight.

Bitcoin open interest hit five-week highs while funding rates mimicked the BTC price collapse below $60,000, leading analysis to predict a new short squeeze.