Analysis: Bitcoin has stabilized above $72,000, but has not yet shown signs of a rapid surge to $80,000.

Bitcoin is currently fluctuating above $72,000, while Ethereum is rising slightly. The market has entered a consolidation phase after its previous breakout. Although Bitcoin has successfully held above the $70,000 level, which had previously acted as resistance, the expected rapid surge towards $80,000 has not yet materialized. Derivatives data shows that bullish sentiment remains moderately strong, with Bitcoin futures open interest (OI) rising to approximately 680,000 BTC, reaching a near two-week high. Meanwhile, open interest in gold-linked tokens XAUT and PAXG futures continues to decline, indicating that some funds may be flowing back into mainstream crypto assets after the gold rally slows. In the options market, demand for high-strike-price call options has increased, and 30-day implied volatility has remained generally stable, reflecting relatively calm market sentiment. Market expectations of easing tensions in the Middle East are boosting risk assets. However, if shipping disruptions occur in the Strait of Hormuz and push up inflation, the Federal Reserve may be forced to maintain a tighter interest rate policy. (CoinDesk)