Analysis shows that Bitcoin continues to strengthen under macro pressure, and the decrease in volatility may provide conditions for further increases

Bitcoin continues to strengthen under macro pressure, with prices rising about 2% and breaking through $72,000, outperforming the U.S. stock market. Meanwhile, Nasdaq 100 and S&P 500 index futures fell during the Asian trading session, while the U.S. dollar index (DXY) broke above 100. This trend typically puts pressure on risk assets such as cryptocurrencies, but the overall crypto market still maintained an upward trend that day.

In the derivatives market, the open interest (OI) in the crypto industry futures increased by 5% to $10.76 billion in the past 24 hours, indicating continued capital inflow. Among them, Bitcoin's OI rose to 687,200 BTC, the highest since February 25; Ethereum's OI increased to 13.72 million ETH. At the same time, the open interest of futures for tokens like XRP, SOL, ADA, and SUI also saw significant increases. Additionally, Bitcoin's 30-day annualized implied volatility (BVIV) dropped to 55%, reaching a two-week low, indicating a decrease in market volatility and providing conditions for further increases in spot prices. Meanwhile, the ongoing escalation of the conflict in Iran keeps oil prices around $100 per barrel, but Bitcoin remains relatively stable amid geopolitical and macro uncertainties.