The bitcoin market is regaining some momentum as tensions between Washington and Tehran dominate trading. BTC/USD crossed $64,000, with a daily increase of more than 2%. At the same time, US stocks fell and gold accelerated, reinforcing the contrasts between the major markets. This development comes as investors also monitor derivatives, where funding rates signal very strong long positioning in the markets.
In brief
- Bitcoin is back above $64,000 after a daily increase of more than 2%.
- Tensions between the United States and Iran are weighing on American stocks.
- Gold rose more than 1% and reached a daily high of $4,427.
- Derivatives funding rates reach their highest level in 20 months.
- Liquidations remain moderate, with $180 million over 24 hours.
Bitcoin benefits from a rebound above $64,000
According to TradingView data, BTC/USD gained more than 2% on the day. The move comes after Sunday’s weekly close and takes the bitcoin price back above $64,000, as shown chart below. This progression remains within a recent range. The market is therefore looking for more signs before seeing a lasting break.
At the same time, US stocks moved in the red. The S&P 500 fell 0.5% from Thursday’s all-time high. This drop comes before the expiration of the 60-day ceasefire between the United States and Iran. The statements regarding Oman added tension to the macroeconomic context.
On Fox News, Donald Trump threatened Oman with military action around the dispute over the reopening of the Strait of Hormuz oil route. Despite this context, oil did not react strongly. WTI remained stable at $82.35 per barrel. The markets therefore displayed different reactions to the tensions.
Gold accelerates as markets remain under pressure
Gold experienced a more marked development at the start of the week. The precious metal rose more than 1%, reaching $4,427 per ounce. This rise comes as interest from individuals and governments supports high market levels. Flows towards listed products confirm this dynamic.
THE Bytetree data show that 30-day inflows into gold-backed ETFs reached nearly $12 billion as of August 13. These figures illustrate the capital directed towards this type of product. Gold thus retains an important place among the assets monitored. Its progression contrasts with the decline of certain American stocks.
In a note cited by Investing.com, Michael Hartnett, strategist at Bank of America, estimated that gold remained the best option. He presented it as a hedge against dollar depreciation, bond collapses and asset inflation. This reading comes as political tensions influence the markets. The contrast with bitcoin therefore remains visible.
Bitcoin derivatives show busier positioning
QCP Capital emphasizes that bitcoin is resistant to macroeconomic factors without clearly breaking out of its recent range. In his Market Color newsletter released Monday, the company believes that isolated price levels provide little directional information. It favors the observation of a lasting movement outside this area. Such a development would allow a better understanding of market positioning.
Furthermore, the CoinGlass data show that liquidations remain subdued as BTC/USD approaches $64,000. Cross-crypto liquidations over 24 hours reached $180 million. The market previously anticipated that a return towards $61,000 could trigger an unwinding of bullish positions. This scenario would have reinforced the downward pressure.
CryptoQuant brings another element with the financing rates of derivative products. These reached 0.022 on August 14, their highest level in 20 months. According to the platform, this level reflects a positive sentiment and a marked presence of long positions. The derivatives market therefore appears busier, despite contained liquidations.
Futures volumes reinforce market vigilance
CryptoQuant had also noted a significant gap between the futures and spot markets on Binance. The volume of futures contracts exceeded that of the spot market almost eight times. This difference underlines the weight of derivative products in the activity observed. She also explains the importance of financing rates in market monitoring.
For QCP Capital, the resistance of bitcoin in the face of macroeconomic tensions remains notable. However, the company emphasizes the importance of a sustainable exit from the recent range. Limited movements in this area provide less insight into the future direction of the market. This approach is consistent with the data showing a price close to the bottom of its range.
In the short term, investors have several indicators to watch. BTC/USD is trading above $64,000, while gold advances and US stocks retreat. At the same time, high funding rates signal a market more oriented towards long positions. Bitcoin’s next move could depend on its ability to sustainably break out of its current range.
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