[Digital Today reporter Yesle Kim (김예슬)] Bitcoin has rebounded around $75,650, reigniting expectations of a renewed attempt at $80,000.

On April 29 (all times local), blockchain media outlet Coindesk reported that bitcoin traded around $77,700, up 1.8% since midnight UTC. The $75,650 level, which had been an upper resistance in last week’s rally, acted as support this time.

If that support holds, bitcoin could try again to break $80,000. Ethereum, by contrast, stayed around $2,344 and showed a weaker chart than bitcoin as it continued a pattern of lower highs since April 17.

The broader cryptocurrency market showed strength. That reflected U.S. investors watching tech stocks ahead of earnings from Alphabet, Microsoft, Amazon and Meta. Nasdaq 100 futures also rose 0.25% in premarket trade.

Derivatives market sentiment was mixed, however. Bitcoin futures open interest fell to 715,600 BTC, the lowest since April 9. It was also well below the monthly high of 800,000 BTC. As the spot price slowed around $80,000, the market’s risk-reduction trend continued, and some analysts also raised the possibility that a bear market could persist.

Dogecoin futures, by contrast, saw inflows. Open interest jumped 18% in a day to 16.06 billion tokens, the highest since Oct. 10 last year. Funding rates for perpetual futures were steady at around 4% a year. Among major tokens, the cumulative volume delta adjusted for open interest was also the highest, a pattern seen as reflecting new directional bets rather than excessive leverage.

Shiba Inu futures listed on Binance showed a similar trend. Such memecoin strength, however, could be interpreted as a sign of speculative overheating. A pattern of rising memecoin trading often appeared before broader market pullbacks. The outlet also reported that the Binance crude oil futures market emerged as a burdening factor. Open interest rose 27%, while oil prices topped $100. That could be a headwind for risk assets, including cryptocurrencies.