TechFlow News, April 9: According to CoinDesk, Bitcoin is currently trading at approximately $71,200, while Ethereum trades at $2,185; overall market sentiment remains range-bound. Bloomberg analyst Mike McGlone warned that if Bitcoin fails to reclaim the $75,000 level, it risks falling as low as $10,000; conversely, Fundstrat founder Tom Lee believes the market has already established a bottom.
In derivatives, Bitcoin futures open interest has risen to 726,000 BTC; the 24-hour Cumulative Volume Delta (CVD) has registered positive values for two consecutive days, and the funding rate stands slightly above zero—indicating an overall bullish bias. By contrast, CVD and funding rates for Ethereum (ETH), XRP, and Solana are slightly negative. The volatility index continues to decline, with the market anticipating price swings of only around 2.5% ahead of Friday’s inflation data release.
Among altcoins, MANA and AERO each rose approximately 6%; however, MANA’s rally coincided with a 25% surge in open interest, suggesting leverage-driven buying. Market participants are closely watching whether Bitcoin can convincingly break above and hold the $75,000 level—if achieved, it may trigger capital rotation into oversold altcoin sectors.
