Updated: 22.04.2026
- QCP analysts believe that Bitcoin’s rise above $79,000 reflects weakening positions rather than renewed confidence.
- They believe that risk sentiment has stabilized.
Over the past 72 hours, Bitcoin’s strong growth has added $5000 to its price and helped it reach its April 22 intraday peak at $79,500. This is Bitcoin’s first test of early February levels.
Shortly after reaching its daily peak, BTC retreated just below $79,000, maintaining daily and weekly gains of 5% and 6,5%, respectively. This increase pushed Bitcoin’s market capitalization to $1,58 trillion, significantly higher than the $1,36 trillion reached on April 1.
Bitcoin’s rally resulted in $207 million in short positions being liquidated in 24 hours, compared to $28 million in long positions.
BTC Price Data from CoinGecko
As noted in previous news Happy Coin NewsThe price jump was linked to the extension of the ceasefire between Iran and the United States, announced by US President Trump on Tuesday evening. This followed Iran’s refusal to participate in peace talks in Islamabad. Media reports attributed this to internal disagreements between the Iranian government and the Islamic Revolutionary Guard Corps (IRGC).
Despite the fact that the Bitcoin has shown double-digit growth since the beginning of the month, QCP analysts believe that the price dynamics reflect a weakening position rather than a renewed confidence. In their latest newsletter They noted that markets have reduced short-term escalation risks following the extension of the ceasefire. They believe that risk sentiment has stabilized, although macroeconomic uncertainty remains.
The bulletin also notes that oil prices near $100 per barrel signal continued supply disruptions, which is fueling high inflation. This situation traps markets between elevated price pressures and weakening demand forecasts, complicating monetary policymaking.
As for cryptocurrencies, BTC’s rebound is driven more by reduced risk than improved fundamentals. Open interest has recovered, while funding remains negative, suggesting new short positions rather than capitulation. This supports the squeeze, but confidence remains weak, the analysts wrote.
Analysts say the path forward still depends on oil prices and politics.
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