CoinDesk reported that risk asset sentiment revived following news of President Trump's extension of the Iran truce, breaking Bitcoin out of its weeks-long boring sideways trading range of $65,000-$75,000 and 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 asset has broken above the 100-day moving average and is forming momentum towards its next target, the 200-day moving average ($85,900), the outlet added.
