Bitcoin BTC is nearing a break above $75,000, a price that traders have been building short positions around this level for over two months. This could accelerate any upside move. Meanwhile, macroeconomic sentiment is improving, with the S&P 500 posting its highest close since before the Iran conflict escalated. Precious metals also saw a resurgence, with silver rising by 2.9% and gold adding 0.7%. Notional open interest (OI) in crypto futures rose to $126 billion, the most since Jan. 31. Other notable coins are Ether's OI, ZEC, SOL and HYPE, showing strong bullish patterns. However, the 30-day implied volatility (IV) indexes for bitcoin and ether, BVIV and EVIV, have stopped declining over the past two days.