Dispositions of bitcoin by major investors and leadership departures may signal a potential rebound for the struggling crypto market.
Emerging indicators suggest a bottom for bitcoin (Getty images)Key Takeaways:
- Bitcoin breached the $70,000 threshold during Monday’s U.S. afternoon session.
- This upward movement coincides with the appearance of contrarian buy signals, such as a bitcoin treasury firm executive stepping down and bearish predictions from a prominent long-term supporter.
Digital assets extended a rally that began on Sunday, with bitcoin BTC$68,133.59 pushing past the $70,000 mark during subdued trading hours in the U.S. following Easter.
These gains are occurring alongside a slight rise in major stock market indices ahead of President Trump’s Tuesday deadline for Iran to open the Strait of Hormuz. Shortly after noon on the East Coast, the Nasdaq was up 0.45% and the S&P 500 by 0.3%.
Bitcoin is now up nearly 4% over the last 24 hours, with ether, XRP, and solana showing comparable increases.
Contrarian bitcoin proponents, who first saw hope for a bottom forming after the cryptocurrency plummeted to $60,000 in early February, were encouraged when the staunchly skeptical Financial Times celebrated its bearish stance.
Investors may have felt even more encouraged over the weekend by additional signs of a market floor. One key event was the late Friday announcement that Jeff Park was leaving his position as chief investment officer at ProCap Financial (BRR). Under Anthony Pompliano’s leadership, ProCap was one of several hastily established bitcoin treasury companies in 2025 that sought to capitalize on the BTC bull market and emulate Michael Saylor’s Strategy.
Like other 2025 entrants — including David Bailey’s Nakamoto (NAKA) and Jack Mallers’ Twenty One Capital (XXI) — ProCap’s stock has faced significant challenges, underperforming for shareholders compared to bitcoin itself.
Another notable signal came from respected long-term analyst Willy Woo, who indicated that bitcoin might trade in a sideways range for 8 to 12 years before a major bull run begins.
Additional indicators from recent weeks include bitcoin miner MARA Holdings disposing of over 15,000 of its BTC holdings, peer Riot Platforms liquidating its entire March production of 3,778 coins, and the aforementioned Nakamoto reducing its holdings.
While it remains to be seen if the true bottom has been reached, the signs of a market floor are accumulating.
More For You
Encryption Supremacy: Zcash and Privacy in the Age of Scale
Most crypto privacy models weaken as blockchain data grows. Encryption-based models like Zcash strengthen. CoinDesk Research maps the five privacy approaches and examines the widening gap.
Why it matters:
As blockchain adoption scales, the metadata available to machine learning models scales with it. Obfuscation-based privacy approaches are structurally degrading as a result. This report provides a comprehensive comparison of all five major crypto privacy architectures and a framework for evaluating which models remain durable as AI capabilities improve.
‘A whole civilization will die’: Crypto markets under pressure as Trump ups rhetoric towards Iran
Weekend gains for bitcoin have been mostly erased ahead of the president’s Tuesday night deadline for the reopening of the Strait of Hormuz
What to know:
- President Trump’s Tuesday evening deadline for Iran to reopen the Strait of Hormuz is nearing and risk markets are under pressure.
- «A whole civilation will die,» said the president on Tuesday morning.
- The military objectives of the Iran war have been completed, said Vice President J.D. Vance.
