Recently, ICX has completed a staged bottoming process due to improved macro sentiment and linkage with major assets. Volume and price have both increased, with a breakout above the key $0.0378 resistance, providing initial confirmation of a short-term bullish trend. Currently, liquidity is improving and bearish sentiment in derivatives is easing. The first major resistance is expected at $0.0422, with strong support at $0.036. Strategy advice: Participate in the rebound trend, monitor resistance levels closely, be cautious of volatility at highs and profit-taking pullbacks, and set stop-loss levels flexibly.

Recently, the easing Middle East situation and coexistence of hawkish Fed comments have led Bitcoin and Ethereum to rebound first, boosting the overall market risk appetite. After ICX hit a low of $0.03497 on April 12, it quickly followed major assets in a bottoming rebound, rising above $0.038 within just a few days, accompanied by gradually increasing volumes, clearly demonstrating that risk sentiment recovery has a direct short-term impact on market mood.

Bitcoin surged past $72,000, rising about 3% to approximately $72,300, driven by easing tensions in the Middle East. Israeli Prime Minister Netanyahu reportedly initiated talks with Lebanon, supported by Trump's call for reduced Israeli military actions to maintain a ceasefire. Bitcoin's 24-hour gain of around 2% outpaced other major cryptocurrencies and coincided with a rebound in U.S. stocks and a drop in oil prices. Bitcoin is increasingly decoupling from tech stocks, influenced more by geopolitical and risk-averse factors.

Analysis: Bitcoin breaks through $72,000, Middle East ceasefire expectations boost market sentiment.

BitMart Research Weekly highlights easing US-Iran tensions and a hawkish shift in the Federal Reserve, driving a rebound in risk assets including crypto. US stocks, especially AI-related sectors, show strong recovery amid geopolitical risks. Inflation data signals potential upward pressure if oil prices stay high. Crypto markets follow US stocks with BTC and ETH leading, while altcoins remain volatile. Institutional inflows into Bitcoin ETFs and MicroStrategy’s increased BTC holdings indicate long-term confidence.

BitMart Research Institute Weekly Hotspot Analysis: US-Iran Easing Combined with Fed's Hawkish Shift, Crypto Market Follows Rebound to Form a Bottom

On the daily chart, ICX posted two consecutive days of gains on April 15–16, breaking above the previous $0.0378 resistance with a notable surge in volume, forming a bullish pattern of rising price and volume, and confirming the short-term uptrend. The focus now turns to the historical supply zone near $0.0422, while the $0.036 level below provides strong support.

Bitcoin rose to around $74,935 during the Asian session, up 0.7% in 24 hours and 5.4% weekly, driven mainly by spot buying rather than broad risk appetite. Derivatives markets show caution: perpetual contract funding rates remain negative, open interest declines, and options indicate higher demand for downside protection. This suggests a rebound, not a trend reversal, amid ongoing risk aversion and cautious sentiment despite gains.

Analysis: Bitcoin strengthens along with US stocks, but the options market still bets on downside risk.

On the derivatives front, funding rates for perpetual contracts have rebounded from lows to neutral, indicating a clear weakening of bearish sentiment. With liquidity improving, while ICX benefits from passive capital inflows, hedging demand and negative tail risks remain in the market. Future volatility may increase, so attention should be paid to short-term pressure from rapid profit-taking.

On April 10, as Bitcoin surpassed $72,000 again, data from Coinglass showed that funding rates on major centralized and decentralized exchanges indicate a deepening bearish market sentiment. Funding rates, used to balance perpetual contract prices with underlying asset prices, reflect trader sentiment: rates above 0.01% suggest bullishness, while rates below 0.005% indicate bearishness. Current rates point to increased bearishness.

The current mainstream CEX and DEX funding rates indicate a deepening bearish sentiment in the market.

As of April 8, with Bitcoin surpassing $74,000, data from Coinglass shows that funding rates on major centralized and decentralized exchanges indicate a significant weakening of bearish sentiment, with many rates returning to neutral. Funding rates, used to balance perpetual contract prices with underlying assets, reflect market sentiment: rates above 0.01% suggest bullishness, while rates below 0.005% indicate bearishness.

The current mainstream CEX and DEX funding rates indicate a significant weakening of the bearish market sentiment.

According to Coinglass data on April 16, as Bitcoin continues to rise, the funding rates on major centralized and decentralized exchanges indicate a significant weakening of the bearish market sentiment. Funding rates, used to balance perpetual contract prices with underlying asset prices, show that when rates exceed 0.01%, the market is generally bullish, while rates below 0.005% indicate bearish sentiment.

ICON

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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ICX price today is 0.04, with a live price change of 3.17 in the last 24 hours. Convert, buy, sell and trade ICX on Bybit-eu.

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