BMT is currently in a low-leverage environment, with overall market positions more healthy. However, in the short term, it is significantly affected by fluctuations at key Bitcoin price levels ($75,000/$80,000), leading to amplified high-beta sentiment and volatility. Technically, BMT has effectively broken through the 0.0150 threshold; if it breaks above the 0.0160–0.0165 range with volume, a mid-level rebound may continue. If it falls below 0.0150, caution is needed for possible secondary corrections caused by capital withdrawal. In the medium-to-long term, institutional capital inflows and the recovery of market confidence give BMT upside potential, but it is necessary to dynamically track macro policy and liquidity changes. It is advised to position only at key technical support levels and maintain flexible position management.

Recently, the scale of Bitcoin futures holdings has been drastically reduced to about half of last year's peak, and the overall market leverage level has declined significantly. Funding rates fluctuate sharply between positive and negative territory, reflecting heightened sensitivity to market direction among bulls and bears under the low-leverage framework. Overall, the current deep deleveraging setup brings healthier position distribution to the market, but it also means that even small amounts of capital inflows or outflows will be amplified, causing stronger impacts on the short-term volatility of Bitcoin and related assets. In this context, as a high-beta asset, BMT’s price is more susceptible to chain amplification effects from short-term sentiment.

Bitcoin futures open interest has halved from $42 billion in October 2025 to $21 billion, indicating a deep market deleveraging. Current low leverage means even small capital inflows can significantly impact prices. Funding rates have fluctuated sharply between -12% and +7%, showing rapid shifts in market sentiment. Despite ongoing geopolitical tensions, no major liquidations have occurred since early February, reflecting a healthier position structure. Bitcoin awaits a clear directional trend amid heightened market sensitivity.

Analysis: The market has undergone a round of deep deleveraging, and Bitcoin is waiting to choose a direction.

Bitcoin has repeatedly tested the $75,000 level, which is seen as the 'negative gamma release point' in the derivatives market. Approaching this area often magnifies derivatives volatility, intensifying rapid capital movement. As Bitcoin surpasses this threshold and tests the $80,000 positive gamma zone, the overall volatility range is expected to contract. However, if it retreats or fails to firmly break above previous highs, downward pressure will quickly transmit to the global crypto asset markets. As an altcoin highly correlated with Bitcoin, BMT may exhibit even more intense sentiment fluctuations in the short term, so caution is warranted regarding the transmission effects of these key levels.

Bitcoin has surpassed a four-week high, rising above $74,000. Analysts identify $75,000 as a critical "volatility release point," where price fluctuations may intensify due to negative gamma effects in the derivatives market. This level coincides with Bitcoin's 100-day moving average, previously a major resistance in January. Breaking above $75,000 could accelerate the uptrend, while a decline may increase downward pressure. The $80,000–$80,600 range marks a positive gamma zone with lower volatility, and the 200-day moving average at $87,519 serves as a long-term reference.

Analysis: Bitcoin breaks through a four-week high, key price range may intensify market volatility

From late March to early April, BMT oscillated in the 0.0135–0.016 range, undergoing multiple dips before a strong single-day rebound on April 16, jumping from 0.01504 to 0.01588. That day's trading volume exceeded 5 million, a significant increase from the previous daily average of around 1 million, indicating strong bullish intervention. The current price has breached the 0.0150 mark, with short-term resistance around 0.0160–0.0165. If this area is broken with high volume, the mid-level rebound is likely to continue; conversely, if it falls back below 0.0150, be wary of a secondary pullback risk related to renewed capital outflow.

With easing geopolitical risks and the Fed’s hawkish shift, traditional risk assets have seen a phase of recovery and attracted institutions to reallocate toward crypto assets. The continuous approval of Bitcoin ETFs and increasing holdings by large enterprises have injected long-term confidence into the market. As an important project within the ecosystem, BMT is expected to receive incremental allocation in this broad environment, but it remains crucial to watch the ongoing evolution of macro inflation and monetary policy for their impact on liquidity margins.

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

Bubblemaps

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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Bubblemaps Price: BMT Live Price Today | BMT Market Cap & Chart Analysis | Bybit-eu

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BMT price today is 0.02, with a live price change of 5.12 in the last 24 hours. Convert, buy, sell and trade BMT on Bybit-eu.

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