Bitcoin News Today: Bitcoin Reclaims $75K as Traders Watch CME Gap and DeFi Risks

Key Takeaways Bitcoin has moved back above $75,000 after briefly falling below that level earlier.Traders continue to focus on the CME futures gap between roughly $74,600 and $77,500.The Kelp DAO exploit continues to pressure DeFi markets and altcoins.Oil prices and Iran-related headlines remain key macro drivers. Bitcoin Climbs Back Above $75K Bitcoin has recovered above $75,000 after pulling back from Friday’s high above $78,000. The rebound comes as traders continue to position around the large CME futures gap left behind after the weekend. Ethereum has also stabilized near $2,300 after falling from Friday’s peak near $2,460. CME Gap Still in Focus Bitcoin futures on CME closed Friday near $77,540 and reopened around $74,600, creating an upside gap of nearly 4%. Historically, Bitcoin often revisits these gaps, leading many traders to expect a move back toward the $77,000–$78,000 range. The recovery above $75,000 strengthens the possibility that BTC could continue pushing higher if risk sentiment improves. Iran Headlines and Oil Prices Continue to Drive Markets Macro conditions remain volatile as investors continue to monitor developments around Iran and the Strait of Hormuz. Oil prices remain elevated after renewed disruptions to shipping routes over the weekend, while US stock futures have traded more cautiously. Despite this, Bitcoin has continued to outperform many traditional risk assets during the recent period of geopolitical uncertainty. Kelp DAO Hack Still Weighs on DeFi The fallout from the Kelp DAO exploit continues to affect the DeFi sector. The attack caused billions of dollars in withdrawals from Aave and triggered concerns about bad debt and liquidity shortages. While the AAVE token has stabilized somewhat after its sharp weekend decline, DeFi sentiment remains fragile. Traders Remain Positioned for Volatility Derivatives markets continue to show cautious sentiment. Funding rates for major crypto assets remain slightly negative, indicating that many traders are still betting against a sustained breakout. That short positioning could help fuel another rally if Bitcoin continues to hold above $75,000 and pushes toward the CME gap zone. Key Levels to Watch For Bitcoin, traders are watching: Support near $74,000–$75,000Resistance near $76,000CME gap target near $77,500Larger breakout target near $80,000 As long as Bitcoin remains above $75,000, the short-term structure continues to favor the bulls despite ongoing macro and DeFi-related risks.