Bitcoin climbed back above $70,000 on Sunday, extending a holiday-driven rally and offering some relief to a crypto market that has struggled in recent months.
The move came during thin post-Easter U.S. trading, alongside modest gains in equities. The Nasdaq rose 0.45% while the S&P 500 added 0.3% ahead of geopolitical developments tied to Iran and the Strait of Hormuz.
Over the past 24 hours, bitcoin has advanced nearly 4%, with ether, XRP, and solana posting similar gains.
A growing number of contrarian indicators are beginning to catch investors’ attention. Earlier this year, bearish sentiment peaked as bitcoin dropped toward $60,000, with even long-time skeptics turning more vocal.
Over the weekend, fresh developments reinforced that narrative. Jeff Park stepped down as chief investment officer at ProCap Financial, one of several bitcoin treasury firms formed in 2025 that have struggled to match bitcoin’s performance.
Other firms in the same category, including Nakamoto and Twenty One Capital, have also underperformed.
Adding to the cautious outlook, veteran analyst Willy Woo suggested bitcoin could remain range-bound for years before entering its next major bull phase.
Meanwhile, notable selling pressure has emerged. MARA Holdings sold more than 15,000 BTC, Riot Platforms offloaded its entire March production, and Nakamoto trimmed its holdings.
While it remains uncertain whether a bottom has been established, the accumulation of these signals suggests the market may be moving in that direction.
