Bitcoin briefly climbed to $69,550 on Monday, rising 3.30% while remaining about 45% below its $126,000 all-time high set on October 6, 2025. The move triggered heavy derivatives liquidations, with over $276 million in leveraged positions wiped out across 80,200 traders. Short sellers absorbed most of the hit as BTC again tested the $70,000 area it has failed to reclaim repeatedly since early February.

Strategy said it recorded a $14.46 billion unrealized loss on its Bitcoin holdings in the first quarter of 2026, alongside a $2.42 billion deferred tax asset linked to those paper losses. The company also bought 4,871 BTC from April 1 to April 5 for about $330 million, lifting total holdings to 766,970 BTC, valued near $53 billion at current prices.

Crypto analyst Nehal outlined a Bitcoin trading roadmap in an April 5 post, describing how investor psychology may shift through 2026. He projected BTC could peak near $215,000 in May, which he framed as a gain of more than 200% from a current price above $69,000. The plan also sketches a possible bull-trap phase in June and distribution that could extend into July and August.

Bitcoin (BTC) pushed above $68,800 and briefly reclaimed $70,000, but the move failed to hold after a high of $70,463. The price has since pulled back while still trading above $68,000 and the 100-hour simple moving average, with $67,500 flagged as a key near-term support. Upside levels highlighted include $69,350, $69,800, and $70,500, while a break lower could expose $66,800 and $65,500.

Bitcoin (BTC) was nearing $70,000 at press time after trading below that level for about eleven days. Apparent demand fell to negative 86,000 BTC, valued at roughly $5.95 billion, while CryptoQuant data showed long-term holders moving older coins even as whales drove short-term buying over the past 48 hours.

High-leverage trader James Wynn recorded another forced closure after Bitcoin moved higher, bringing his total liquidations to six over the past two weeks. Lookonchain said Hyperliquid wallet data shows the latest liquidation occurred around the $68k area, after a series of short attempts failed. The report also noted BTC was trading in the high $69k range at the time of writing.

Bitcoin is still trading in a bear-flag structure that implies a potential move toward sub-$50,000, but a breakout above the upper trendline near the mid-$70,000 area could flip the setup bullish. Since March 2, Strategy's holdings increased by 46,233 BTC versus about 16,200 BTC mined in the same span, and the pattern's measured-move target is near $108,000-$110,000.

Tyler Winklevoss said the U.S. M2 money supply hitting a record $22.7 trillion amounts to a large "advertising budget" for Bitcoin. He contrasted expanding fiat liquidity with Bitcoin's fixed 21 million-coin cap and pointed to the asset's reported relationship with global M2. The post was shared on X on April 6, 2026.