So Bitcoin is impressing today. It rose nearly 1.5% in the last 24 hours and is already touching 72,840, managing to outperform the gains of the Nasdaq 100 and S&P 500 even with the dollar (DXY) above 100. This is rare to see because normally when the dollar rises strongly, cryptocurrencies face pressure.

But today the cryptocurrency market is moving at a different pace. The accumulated open interest in futures increased by 5% to 107.6 billion. BTC has 687,200 BTC open, the highest since the end of February. Funding rates are positive, indicating that investors are betting on a rise even now.

Technically, if BTC manages to break through 74,000 with good volume, it could pave the way to 80,000. If it fails, it remains in the trading range that has been since early February.

The altcoin market is also excited. That TRUMP token surged over 30% after an event announcement with major holders. TAO and FET rose significantly yesterday, but today they are down (TAO -1.76%, FET -0.16%). Solana is up 1.27%, while Cardano and Sui are slightly down.

The 30-day implied volatility index for Bitcoin dropped to 55%, the lowest in two weeks. This suggests the market is calmer, without the panic seen earlier. Bitcoin puts on Deribit remain more expensive than calls, signaling demand for protection, but the overall sentiment is optimistic.