Bitcoin remained above a critical support level as both cryptocurrency and equity markets faced renewed pressure amid escalating geopolitical tensions and cautious investor sentiment.
U.S. equity futures slipped after U.S. President Donald Trump warned that the ceasefire with Iran was “on massive life support.” The comments pushed Brent crude prices sharply higher to $107 per barrel, while the U.S. Dollar Index (DXY) climbed 0.4%, reflecting growing demand for safe-haven assets.
Despite the broader risk-off environment, Bitcoin continued trading above the closely watched $76,000 threshold highlighted by Bitmine (BMNR) Chairman Tom Lee. Lee previously described the level as a decisive marker for the ongoing bull market, noting that Bitcoin holding above it through month-end would reinforce bullish momentum.
The wider altcoin market delivered mixed performance, with most digital assets lagging behind the two leading cryptocurrencies. However, select tokens managed to defy the bearish trend. Curve DAO Token and Toncoin posted gains ranging between 5% and 10% over the past 24 hours, emerging as standout performers during the downturn.
In derivatives markets, total open interest across crypto futures climbed to $125 billion even as trading volumes declined 6% to $174 million. Analysts say the divergence points to reduced short-term speculation while traders gradually reposition themselves for the next major market move.
Among notable shifts, ZEC futures open interest plunged more than 10% to 1.90 million tokens after reaching a 4.5-month high of 2.48 million last week. At the same time, the asset’s price fell from $642 to $550, indicating that bullish positions were being unwound rather than replaced by aggressive short selling.
Other major tokens experiencing declines in open interest included SUI, CORE, and HBAR. In contrast, Canton’s CC token recorded a more than 10% jump in open interest, supported by positive funding rates and favorable cumulative volume delta data, signaling stronger buyer control.
Bitcoin’s 30-day implied volatility index, BVIV, has also stabilized near 40% after months of decline. While volatility has yet to rebound significantly, analysts view the steady conditions as supportive of continued bullish price action.
Meanwhile, Wall Street’s volatility benchmark, the VIX index, rose more than 10% this week to nearly 19 points. Although still well below recent peaks above 30, the uptick reflects rising investor caution as geopolitical uncertainty intensifies.
Options activity on Deribit showed strong interest in Bitcoin call options at strike prices of $80,000, $82,000, and $84,000 — signaling expectations of further upside. At the same time, traders also accumulated put options at $65,000 and $74,000, suggesting some investors remain hedged against a potential market pullback.
