Bitcoin Rebounds Toward $70K After US-Iran Clash – ‘Sign Of Life,’ Says VanEck CEO

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Key points:
In an interview with CNBC, VanEck CEO said that Bitcoin is most likely “making a bottom.”
U.S. ISM Manufacturing PMI came in at 52.4, which is slightly lower than January’s 52.6 but still beat expectations of 51.8.
Retail sentiment on Stocktwits around Bitcoin rose to ‘extremely bullish’ from ‘bullish’ territory over the past day.
After a volatile weekend for Bitcoin (BTC) following the U.S. and Israel’s attack on Iran, the apex cryptocurrency climbed to almost touch $70,000 on Monday as the overall crypto market cap climbed back above $2.4 trillion.

“I think we’re making a bottom and this is very nice sign of life,” VanEck CEO, Jan van Eck, told CNBC, noting that as per the four-year cycle 2026 is meant to a bear market.

Bitcoin’s price rose 2.2% in the last 24 hours to $68,400, paring gains after nearly touching $70,000 earlier in the day. On Stocktwits, retail sentiment around Bitcoin rose to ‘extremely bullish’ from ‘bullish’ territory over the past day.

What Is Retail Saying About Bitcoin?

According to one user on Stocktwits, if the conflict between the U.S. and Iran goes on for longer than a few days, Bitcoin could see a “silver-like” rally.

https://www.stocktwits.com/DeFi_Wookie/message/646369931

Another user said the conflict is likely to devalue the dollar, resulting in a bull run for Bitcoin.

https://www.stocktwits.com/ModestlyMade/message/646369808

The strength in Bitcoin’s price also comes after the U.S. ISM Manufacturing PMI came in at 52.4, which is slightly lower than January’s 52.6 but still beat expectations of 51.8, and shows growth. Generally, a PMI number above 50 signals expansion, and below 50 means the economy is operating defensively. Moreover, Bitcoin has never delivered a fresh record high when PMI has been below 50. The U.S. economy has now held above 50 for two consecutive months.

Altcoins Rally While Liquidations Mount

Crypto majors rose alongside Bitcoin, with Solana (SOL) and Ethereum (ETH) clocking the biggest gains among the top 10, each rising around 2%. Solana’s price touched $86.50, while Ethereum’s price crossed back over the $2000 mark. Both saw retail sentiment improve to ‘bullish’ from ‘neutral’ territory over the past day. Chatter remained subdued at ‘low’ levels.

Cardano (ADA) and Dogecoin (DOGE) were the two tokens still in the red while the broader market rallied. Cardano’s price fell more than 1% in the last 24 hours, while Dogecoin’s price edged 0.6% lower.

According to CoinGlass data, the crypto market saw around $330 million in liquidations over the last 24 hours, with more than $200 million in short bets wiped out.
source: https://www.tradingview.com/news/stocktwits:b67f35e72094b:0/