I just saw Bitcoin break through the $75K level, and it turns out derivatives are the main trigger for this rally. It's really interesting to see how old orders are part of the built-up momentum, it seems that accumulation of positions in futures and options instruments is making the buying pressure even stronger.

Currently, Bitcoin is still moving in a solid area, and what needs to be watched is whether this momentum can last or if it's just a flash rally. From what I see, activity in the derivatives market is indeed an important barometer for predicting the next movement. If old orders are liquidity indicators, then there is decent backing for this level.