Across crypto, the response has been constructive but measured, with Ether rising as much as 3.3% while Solana and XRP gained up to 2.2% and 1.5%, respectively. Market participants appear increasingly focused on the possibility that the conflict could end sooner than expected without reopening the Strait, a dynamic that could be helping Bitcoin remain anchored near the $68,000 range. At the same time, technical signals remain mixed, with the token still trading below its 50-day moving average even as it continues to bounce along an upward support line formed over the past two months.

Positioning data suggests investors are not abandoning caution. Deribit shows more than $1.5 billion in put options clustered at the $60,000 level, reflecting ongoing demand for downside protection, although some expect that hedging activity could ease in the coming weeks. Still, Bitcoin's relative resilience stands out, particularly as gold has dropped more than 13% this month while the cryptocurrency has gained roughly 2%. According to Glassnode, easing sell-side pressure and stabilizing flows may be laying the groundwork for a potential recovery, though stronger demand would likely be required to confirm any sustained shift in trend.
source: https://www.tradingview.com/news/gurufocus:136f8e932094b:0-bitcoin-holds-near-66-700-eyes-first-monthly-gain-since-september/