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- Bitcoin trades above $70,700 as derivatives data shows $80,000 calls dominating on Deribit.<\/li>\n
- BTC rebounded to near $72,900 on Wednesday as a US-Iran ceasefire eased oil pressures.<\/li>\n
- Analysts see end of stress cycle, targeting $80,000 if $75,000 breaks.<\/li>\n<\/ul>\n
Bitcoin\u2019s resurgence to above $70,000, with intraday highs of $72,900, has crypto enthusiasts in an upbeat mood. The cryptocurrency hovers near $70,800 as of writing, off highs seen on Wednesday, but bulls are upbeat as fresh market signals point to a potential breakout.<\/p>\n
Bitcoins Traders bet on next leg up for Bitcoin<\/h2>\n
Bitcoin is well off its year-to-date highs and has struggled since breaking lower in late January 2026. Bears are therefore still on the hunt.<\/p>\n
However, this week has investor sentiment shifting bullish, fueled by the US-Iran ceasefire and key activity in Bitcoin derivatives. Data suggests investors are eyeing a potential rally to $80,000.<\/p>\n
Options data<\/a> from Deribit, the platform that accounts for the lion\u2019s share of the global crypto options market, shows bullish bets on prices surging to $80,000 have increased.<\/p>\n
Call options betting on BTC climbing beyond the $80k strike price have hit $1.6 billion. This is a stark reversal from recent months when $60,000 puts, which outline wagers on price drops, dominated the outlook.<\/p>\n
On-chain data also supports the bullish case, with Morgan Stanley\u2019s ETF debut netting over $34 million in volume.<\/p>\n
Allyson Wallace, global head of ETFs at Morgan Stanley, commented ahead of the launch: \u201cThe demand, especially from the high-net-worth investors, has been quite high. Viewed at the firm level, this is an asset class that is not going away.\u201d<\/p>\n
Bitcoins Bitcoin price prediction<\/h2>\n
The crypto market began the week with all eyes on Bitcoin. Notably, BTC bounced to highs near $72,900, hitting levels last seen since March 18. The uptick saw buyers push from lows near $67,700 overnight Tuesday, April 7, amid news of a ceasefire between the US and Iran<\/a>.<\/p>\n
![\"bitcoins](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2026\/04\/bitcoin-btc-price-chart.png\")
Bitcoin price chart<\/a> by TradingView<\/figcaption><\/figure>\n Investors buoyed by the prospect of an easing in oil prices helped BTC higher. With broader inflation concerns dissipating, a further strengthening in the ceasefire could see Bitcoin prices break to $75,000. If this happens, the next target will be $80,000 or higher.<\/p>\n
However, geopolitical risks remain amid a likely fragile ceasefire. If fresh attacks begin and an escalation occurs, a surge in oil prices could send risk assets plummeting.<\/p>\n