Bitcoin Rebounds Near $70,000 as Charles Schwab Launches Crypto Trading
Cryptocurrency stocks surged early Monday as Bitcoin rebounds near $70,000. The leading digital asset climbed nearly 3.9% over the past 24 hours, briefly peaking above $70,000 according to CoinMarketCap data. This Bitcoin price recovery comes amid a mix of market and geopolitical developments.
Bitcoin rebounds were supported by a wave of short liquidations. More than $274.43 million in short positions were wiped out in the last 24 hours, with over $154 million specifically from Bitcoin liquidations, per Coinglass data. Traders who bet against Bitcoin price gains were forced to cover positions, adding upward momentum.
Spot Bitcoin ETF flows remained net positive last week, attracting $22.7 million in inflows despite April outflows totaling $164 million. This follows a strong March with $1.32 billion in inflows, according to SoSoValue.
Charles Schwab is preparing to expand access to cryptocurrencies significantly. The brokerage giant plans to roll out direct cryptocurrency trading in the first half of 2026. Through its new Schwab Crypto accounts, clients will be able to buy and sell Bitcoin and Ethereum directly on the platform. Charles Schwab already offers crypto-linked ETFs and Bitcoin futures trading. The firm has opened a waitlist for early access to this Charles Schwab crypto trading service, potentially bringing mainstream investors into the space.
The Bitcoin rebounds occurred as U.S. oil futures eased only slightly, holding above $110 per barrel amid ceasefire discussions between the U.S. and Iran. Benchmark crude declined less than 1%, while gold futures rose modestly and the 10-year Treasury yield increased to 4.36%.
Reports indicate ongoing talks for a potential 45-day ceasefire involving the U.S., Iran, and regional mediators. President Donald Trump extended a deadline related to the Strait of Hormuz to Tuesday evening, though mixed messages and continued regional conflicts added uncertainty to markets.
Crypto stocks mirrored the Bitcoin price strength. Coinbase (COIN) and Circle (CRCL) advanced more than 3%, while miners including MARA, HIVE Digital, and TeraWulf posted gains of over 1%. Gemini also moved higher.
This combination of Bitcoin rebounds near $70,000, heavy short covering, steady ETF interest, and the upcoming Charles Schwab crypto trading launch highlights growing institutional and retail confidence in digital assets despite broader geopolitical tensions. As Schwab Crypto prepares for rollout, it could further integrate Bitcoin and Ethereum into traditional brokerage accounts, potentially driving the next phase of crypto adoption.
Investors will watch Bitcoin price levels closely in the coming days for signs of sustained momentum beyond the $70,000 mark.
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