On the night of April 14, the first cryptocurrency broke the $74,000 mark for the first time since mid-last month, gaining 5% in just 24 hours.

As of this writing, Bitcoin is trading around $74,700.

Ethereum has risen to $2,375, an 8% increase over the past day.

Other top-10 assets have also moved into the "green" zone, with HYPE up 8% and SOL up 4.5%.

The cryptocurrency fear and greed index has climbed to 2. Although this figure remains in the extreme low zone, it is nearly double what it was a week ago.

The crypto market rally is occurring despite uncertainty in the Middle East. Even reports of a "double" blockade of the Strait of Hormuz by both the U.S. and Iran have not significantly hindered the upward momentum.

Several observers noted large volumes of short position liquidations, particularly around the $73,500 mark. The next major liquidity cluster is at $75,500.

GM! #BTC Liquidation Heatmap (24 Hour)

High leverage liquidity.

🧲 75.5k

🧲 73.5k pic.twitter.com/iKmUs0to9L

— CoinGlass (@coinglass_com) April 14, 2026

According to CoinGlass, $440 million worth of shorts were liquidated in the past 24 hours.

Despite the price recovery, on April 13, spot ETFs based on Bitcoin saw an outflow of $291 million, while Ethereum funds attracted a modest $9 million.

Analyst Opinions

MN Trading founder Michaël van de Poppe highlighted the significance of breaking above $75,000. He believes that if this happens with sufficient trading volume, Bitcoin could rise to $80,000-85,000 within April.

#Bitcoin aims to attack the highs and is consolidating around $75K.

If it blasts through $75K with volume, we'll be in for $80-85K this month, as that's where the higher timeframe resistances are.

Yesterday I've made an analysis with several scenarios that I'm looking for.… pic.twitter.com/zq47n6NhXk

— Michaël van de Poppe (@CryptoMichNL) April 14, 2026

"Clearly, the markets have turned upward, gaining strength despite the uncertainty in the Middle East. I believe the chances of a positive scenario increase if the $72,000 level holds as support," van de Poppe noted.

Analyst Ardi observed that a large volume of liquidity has accumulated around $76,000 since March.

"This area has seen a lot of short positions opened recently, and early buyers suffered significant losses during the downturn. If the price can break through this zone and hold above it, the path of least resistance is upward," he added.

CryptoQuant analyst Axel Adler Jr. pointed out the negative demand for Bitcoin when adjusted for issuance volume.

Negative issuance-adjusted demand means the market has not absorbed new BTC fast enough over the past 30 days. Today’s move was driven by short liquidations rather than sustained spot demand. pic.twitter.com/YGC4hpmRjN

— Axel 💎🙌 Adler Jr (@AxelAdlerJr) April 14, 2026

This indicates that the market has not absorbed new coins quickly enough over the last 30 days. Therefore, the recent rally is attributed to short-term liquidations rather than sustained spot demand, according to the expert.

Recall that CryptoQuant linked the rise of Bitcoin and Ethereum to the opening of new long positions in the perpetual futures market.