Bitcoin stays firm above $71K after CPI-led rally triggers profit booking

Bitcoin remained firm above the $71,000 level on Monday despite the escalating tensions in the Middle East. The cryptocurrency was trading at $71,067 mark witnessing a marginal decline of 0.7% in the past 24 hours.

Ethereum was down 0.75% in the past 24 hours. Among the major altcoins, XRP, Solana, Cardano slipped up to 2% whereas BNB, Tron, Dogecoin, and Hyperliquid gained up to 1.76%.

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While a softer CPI print led Bitcoin to a three-week high of $73,800, Trump’s announcement on the US blocking the Strait of Hormuz has led to profit booking among traders, said Akshat Siddhant, Lead quant analyst, Mudrex.

However, Bitcoin seems to be mirroring a breakout setup from Q2 2025 with strong whale activity and exchange inflows dropping to just $5 billion over the past two months, indicating reduced sell pressure, Siddhant further said.

The global crypto market capitalisation went down 0.5% to $2.42 trillion, according to CoinMarketCap.

Bitcoin yet again experienced a notable correction after hitting a crucial resistance at $75,000 during the past weekend. Despite the pullback, the larger price action remains bullish, keeping up the bullish hopes for the token, said CoinDCX Research Team.

In the past week, both Bitcoin and Ethereum gained up to 3% respectively. Among the major altcoins, XRP, BNB, Dogecoin, and Cardano fell up to 7% whereas Solana, Tron, and Hyperliquid gained up to 13%.

CoinSwitch Markets Desk said rising bond yields, tighter liquidity, and a softer dollar are early signs of stress building across financial markets. Bitcoin, currently around $71K, reflects this shift, pulling back after failing to sustain levels above $73.5K.

While a near-term resolution is still possible, investors are starting to factor in the risk of prolonged tensions. For now, the mood is cautious rather than panicked, with close attention on oil prices, bond movements, and overall market volatility for clearer direction, CoinSwitch Markets Desk further said.

What other analysts say

Vikram Subburaj, CEO, Giottus

Bitcoin is trading around $71,100-$71,200 on April 13, with 24-hour volumes above $30 billion. The price has eased after failing to hold above the $73,000 zone in recent sessions. This keeps Bitcoin in a consolidation phase.

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WazirX Market’s Desk

Bitcoin continues to trade around $71K with a steady upward inclination, supported by strong positioning above key moving averages. Momentum is gradually building, reflecting consistent participation and confidence at current levels, while oscillators remain balanced, indicating a healthy, sustainable market structure.

Riya Sehgal, Research Analyst, Delta Exchange

Bitcoin’s rejection from the $73,500–$74,000 zone and subsequent dip toward $70,500 coincided with escalating geopolitical tensions following the collapse of US-Iran peace talks and the announcement of a Strait of Hormuz blockade.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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