Crypto: Bitcoin Nears $70k As Pmi Boost Sees BTC Price Leave Iran Woes Behind

Bitcoin price strength received a surprise bullish catalyst from US manufacturing data, helping to relieve tensions over Iran as US stocks floundered.

Bitcoin (BTC) surged toward $70,000 after Monday’s Wall Street open as crypto markets diverged from US stocks.

Bitcoin reacts to positive US manufacturing data as bulls manage to sideline geopolitical tensions.

BTC price action leaves stocks wrestling with macro uncertainty to retarget $70,000.

Traders stay highly skeptical that the market will begin a true recovery.

Data from TradingView confirmed daily BTC price gains passing 5% as the US trading session began.

The fallout from the ongoing Middle East conflict appeared to have no sway over Bitcoin bulls as BTC/USD hit $69,788 on Bitstamp, its highest level since Feb. 25.

“No re-test levels, just straight up on $BTC and $ETH to start the week,” trader Castillo Trading responded in one of their latest posts on X.

Castillo Trading flagged declining sell-side influence of largest global exchange Binance.

“Decent range has formulated since the lows of last weekend, but a lot of work needs to be done so that this range can continue to hold and actually range,” they continued in a further post.

Source: CoinTelegraph