
Bitcoin climbs as risk sentiment improves, altcoins hit by exploit concerns
Bitcoin climbs to $76,500 amid improving risk sentiment, while altcoins face challenges after KelpDAO exploit.

Bitcoin rose to around $75,800 after Strategy's $2.54 billion purchase, but indicators suggest the rally may not last. The cryptocurrency risks falling below the $70K mark as market conditions change.
Mentioned in this story
Bitcoin (BTC) rose 2.66% to around $75,800 on Monday after Strategy disclosed a $2.54 billion purchase, the company’s third biggest ever, and equivalent to about 2.5 months of new BTC supply.
However, several indicators suggest the rally may fizzle out.

BTC/USD daily chart. Source: TradingView
Key takeaways:
Strategy funded most of its latest 34,164 BTC purchase through its preferred stock, Stretch (STRC), which generated over $2.17 billion through at-the-market share sales between April 13 and April 19.

Source: Strategy’s SEC Filings
That accounted for roughly 86% of the total amount spent, while sales of its Class A common stock, MSTR, added another $366 million.
STRC lets Strategy raise cash for Bitcoin when it trades at or above $100. Stronger prices mean easier fundraising and more BTC buying. In 2026, STRC enabled the purchases of 77,000 BTC, ten times more than all the ETFs combined, per River data.

Bitcoin is currently priced at approximately $75,800 following Strategy's $2.54 billion purchase.
If Bitcoin drops below $70,000, it may indicate a weakening market trend and could lead to further declines in price.
Strategy recently purchased 34,164 Bitcoin, which is equivalent to about 2.5 months of new BTC supply.

Bitcoin climbs to $76,500 amid improving risk sentiment, while altcoins face challenges after KelpDAO exploit.

Shipowners face crypto scams for safe passage in Hormuz Strait.

Dogecoin's transaction volume surges to nearly $800 million amid price rally.

Ripple's David Schwartz explains RLUSD's role and limitations as a stablecoin.

Michael Burry claims 99.9% of investors misunderstand their assets, including Bitcoin, which is currently recovering.

Arbitrum Security Council freezes $71.5M in ETH linked to KelpDAO exploit.
See every story in Crypto — including breaking news and analysis.
Bitcoin ownership YTD change. Source: River
But STRC has been trading below its $100 par value since April 15, which may limit Strategy’s ability to keep raising cash to purchase more Bitcoin this week.

STRC weekly estimates. Source: STRC.LIVE
In past episodes, pauses in Strategy’s Bitcoin purchases have coincided with BTC price slumps.
For instance, on average, BTC’s price has dipped by roughly 30% when STRC traded below its $100 par value.

BTC/USD vs. STRC daily performance chart. Source: TradingView
A 30% dip will take Bitcoin’s price to $53,000 when measured from current levels.

Source: X
The halt appears alongside weakening risk sentiment, with US stock indexes falling amid doubts over the US–Iran peace deal.

Nasdaq, S&P 500, and Dow Jones daily performance charts. Source: TradingView
US President Donald Trump said it was “highly unlikely” he would extend the two-week truce if no agreement is reached before it expires on Wednesday.
Any signs of an extended Middle East conflict may weigh on BTC’s prices.
Bitcoin’s current chart structure shows classic flag consolidation, with price now drifting toward the pattern’s lower boundary. This setup raises the risk of a pullback toward the $67,000–$69,000 region in April, if support gives way.

BTC/USD daily chart. Source: TradingView
At the same time, downside may remain limited as the 20-day (green) and 50-day (red) EMAs continue to act as dynamic support levels. Holding above these averages would signal underlying demand, increasing the chances of a rebound.
If that happens, BTC could attempt a breakout above the flag’s upper trend line, effectively invalidating the bearish setup.
Such a move would open the door for a recovery toward the 200-day EMA (blue), currently near $82,750.
As Cointelegraph reported, breaking the resistance near $78,000 is now a top priority for the bulls.