Analysis: BTC rebounded and broke through $72,000, with signs of slight easing in the Middle East situation boosting market sentiment.

Bitcoin rebounded from a low of approximately $70,500 to $72,100 as geopolitical anxieties eased over the weekend. This followed a short-term correction after a decline triggered by unsuccessful US-Iran negotiations and tensions in the Strait of Hormuz. Reports that Iran is considering abandoning highly enriched uranium as a concession to end the conflict boosted risk assets; meanwhile, US stocks recovered their early losses, with the Nasdaq turning positive and rising 0.3%. However, the US blockade of the Strait of Hormuz has officially taken effect, and regional security risks remain uncertain. Crypto-related stocks strengthened, with Circle rising over 8%, and Coinbase and Strategy also recording gains. Analysts point out that Bitcoin has been consolidating for approximately 67 days since its low of $60,000 in early February, a consolidation period highly similar to that before the previous decline, leading some bears to anticipate a retest of the key support level around $60,000. (CoinDesk)