"Bitcoin finished the week just above the $71,000 level, prolonging a nearly two-and-a-half-month-long battle with its 200-week moving average. Ethereum printed a modest green weekly candle near the $2,100 mark while most other altcoins either bled down or traded sideways."
"The VIX has collapsed back to the 19.5 level, failing to reach the Liberation Day highs by a long shot. Developments relating to the situation in Iran dominated the week, with a supposed ceasefire around Hormuz triggering bounces in the stock market and Bitcoin."
"Bob Elliott argued that shipping volumes remain so impaired that oil will not see meaningful relief unless transit gets back to at least 50% of pre-war capacity. An inflationary phase looks more and more probable."
Bitcoin closed the week above $71,000, maintaining a two-and-a-half-month struggle with its 200-week moving average. Ethereum showed slight gains near $2,100, while most altcoins declined or remained stagnant. The market may react to macroeconomic factors or follow the anticipated 4-year cycle. Major stock indices rose nearly 4%, and gold and silver continued their recoveries. A ceasefire in Hormuz influenced market movements, although shipping volumes remain low. An inflationary phase appears likely, with concerns over Iran's potential fees for tankers in the Hormuz Strait.
Read at news.bitcoin.com
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