Cryptocurrency markets added to Sunday’s gains, pushing Bitcoin above $70,000 during quiet post-Easter US trading hours.
The gains paralleled modest gains in major stock market averages ahead of President Trump’s Tuesday ultimatum to Iran to open the Strait of Hormuz. As of midday on the East Coast, the Nasdaq was up 0.45% and the S&P 500 was up 0.3%.
Bitcoin is currently up nearly 4% in the past 24 hours, with Ether, XRP, and Solana posting similar gains.
When Bitcoin crashed to $60,000 in early February, contrarian Bitcoin bulls initially hoped that a bottom was forming, with the hard-line Financial Times scoring a victory.
Bulls may have been further pleased by several other bottoming signals over the weekend. The first was the news late Friday that Jeff Park would be stepping down from his role as chief investment officer at ProCap Financial (BRR). Led by Anthony Pompliano, ProCap was one of the hastily established Bitcoin finance companies in 2025, aiming to take the wagon to the world. $BTC Create a bull market and recreate the success of Michael Thaler’s strategy.
Like other 2025 stocks (such as David Bailey’s Nakamoto (NAKA) and Jack Mallards’ Twenty One Capital (XXI)), ProCap stocks have struggled mightily, performing far worse for shareholders than Bitcoin itself.
In second place was perennial bull Willy Wu, who suggested that Bitcoin could trade sideways for the next 8-12 years and eventually enter a major bull market.
Other signs from the past few weeks: Bitcoin miner MARA Holdings unloads over 15,000 Bitcoin stacks, peer Riot Platforms sells entire March $BTC 3,778 coins were produced, and the aforementioned Nakamoto sold part of his holdings.
It remains to be seen whether a true bottom will ever come, but the signs of a bottom continue to grow.
