Coindesk reported that risk asset preference sentiment revived due to news of President Trump's extension of the Iran ceasefire, and Bitcoin broke out of the boring $65,000-$75,000 box range that had continued for several weeks, signaling the start of an upward rally. According to on-chain data, exchange BTC balances have fallen to a multi-year low of 2.67 million, suggesting a 'supply shock' is becoming a reality. Technically, the media added, it has broken through the 100-day moving average and is forming momentum towards the next target, the 200-day moving average ($85,900).
