Odaily Planet Daily News Bitfinex released a report saying that Bitcoin had an amazing rebound last week. After briefly falling to a low of $89,698, it rose back to over $100,000. The rally reached highs of $105,800. The 18.2% peak-to-trough rally highlights Bitcoin’s relative strength against stocks. The recovery was primarily driven by active spot buying, as evidenced by the sharp increase in cumulative spot trading volume. This indicator indicates significant buyer pressure, especially from U.S. exchanges. The buying pattern is similar to previous activity associated with MicroStrategy and ETF buying, further supporting the view that institutional demand remains strong.
However, the spot buying pressure seen last week may take time to replenish buying, potentially triggering a brief pullback before further upward momentum can resume, with Bitcoin’s resilience and continued demand allowing it to continue to strengthen in the medium term.