Bitcoin is up 6.84% to $72,951.87 in 24h, outperforming a broader market rally primarily driven by a macro risk-on shift following reports of potential Iran-U.S. negotiations. Primary reason: Geopolitical de-escalation hopes triggered a broad risk-on rally, with Bitcoin acting as a leading indicator. Secondary reasons: A derivatives-led short squeeze amplified the move, supported by positive institutional developments including regulatory support and Fed payment access for a crypto firm. Near-term market outlook: If $BTC holds above $70,000, a test of the $76,380 resistance is likely; a break below risks a drop toward $67,350. Watch for continuity in spot ETF inflows. Conclusion Market Outlook: Bullish Momentum Bitcoin's surge is a combination of a macro catalyst igniting buying and a derivatives market unwinding extreme shorts. The path of least resistance is higher if support holds. Key watch: Can Bitcoin consolidate above $70,000 and gather sufficient volume to challenge the $76,380 resistance in the coming sessions? $BITCOIN