Bitcoin surged to $70,000 as geopolitical tensions in the Middle East intensified. Data reveals short-term holders are showing "zero panic," with loss transfers to exchanges hitting a two-week low. This contrasts sharply with selling seen earlier in the year.
While Bitcoin saw a dip to $63,000 amid escalating US-Iran tensions, exchange inflows from recent buyers did not significantly increase. This stability is a marked shift from earlier capitulation windows where substantial Bitcoin was moved to exchanges at a loss.
On the derivatives front, BTC futures show significant risk reduction, with open interest on Binance contracting by 25%. The estimated leverage ratio has also fallen, indicating aggressive deleveraging phases.
Technically, Bitcoin is attempting to reclaim its Monthly RVWAP. The price is now pushing through $70,000 and approaching key liquidity pockets. Analysts suggest that consolidating above this range could trigger further price expansion.
Spot data flows from major exchanges indicate aggressive spot bidding, rather than isolated derivatives activity. With reduced leverage and cooling loss-driven selling, market attention is focused on Bitcoin's reaction around the $71,500 liquidity band.