Latest betting market development: Bitcoin jumps to $74,000, but Wall Street is ‘cautious’ crypto bear market isn’t over. Analysis for sports bettors and prediction market participants.
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- Bitcoin jumps to $74,000, but Wall Street is ‘cautious’ crypto bear market isn’t over Ines Ferré · Senior Business Reporter Tue, April 14, 2026 at 11:14 PM GMT+8 2 min read BTC-USD Bitcoin ( BTC-USD )
- But Wall Street analysts caution the recent price action is a rally within crypto’s ongoing bear market as the token sits roughly 40% off its October record
- The recent rebound has been driven by short covering in derivatives markets rather than increasing spot demand, according to Ed Engel of Compass Point
- This suggests that traders betting on declining prices have been forced to cover their positions, pushing bitcoin’s price higher in the short term
- Meanwhile, spot trading volumes on crypto exchanges remain near multi-year lows, the analyst noted
- “This dynamic implies tepid underlying demand and keeps us cautious on BTC prices near term,” he added
- Source: Bitcoin jumps to $74,000, but Wall Street is ‘cautious’ crypto bear market isn’t
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Published by Bocphot on April 15, 2026. Source: Bitcoin jumps to $74,000, but Wall Street is ‘cautious’ cryp
