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Leading cryptocurrencies were largely steady while U.S. stocks closed at new record highs on Thursday after President Donald Trump said Iran agreed to transfer its “nuclear dust” to the United States. In crypto markets, Bitcoin traded in a tight range as trading activity picked up, while derivatives data showed significant liquidations over the past 24 hours.
Bitcoin consolidated between the mid-$73,000s and mid-$75,000s. Over the last 24 hours, 24-hour volume increased by 9%. Ethereum was also rangebound around $2,300, while XRP and Dogecoin moved higher.
According to Coinglass data, more than $440 million was liquidated in the past 24 hours, nearly evenly split between long and short positions. Bitcoin futures open interest fell 0.70% over the same period, while Binance derivative sentiment for Bitcoin remained bearish.
The stock market rally continued on Thursday. The Dow Jones Industrial Average rose 115 points, or 0.24%, to close at 48,578.72. The S&P 500 gained 0.26% to finish at 7,041.28, and the Nasdaq Composite added 0.36% to end at 24,102.70, with all three indexes closing at record highs.
Trump told reporters at the White House that Iran has agreed to “give us back the nuclear dust” and said the U.S. expects Iran to abandon nuclear weapons, though Iran has not yet confirmed the claims. Trump also announced a 10-day ceasefire between Israel and Lebanon on Truth Social starting Thursday at 5 p.m. ET.
In commodities, West Texas Intermediate crude futures retraced, trading down 1.32% to $93.44 per barrel. Spot gold was steady at $4,780 per ounce.
Cryptocurrency analyst and trader Michaël van de Poppe said he expects a favorable period for “risk-on” assets, citing lower gold volatility and softer oil prices. He projected: “I think we’re in for a good Q2, given the data, Bitcoin to $85,000-$88,000.”
Another commentator, Rekt Capital, pointed to Bitcoin’s difficulty breaking resistance near $74,800. The analyst said that for Bitcoin to close above the weekly resistance at $72,810, it would need to hold that level as support on any subsequent dip.
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