Odaily News Bitfinex reported that Bitcoin had a stunning rebound last week, rising back above $100,000 after a brief drop to a low of $89,698. The rebound reached a high of $105,800. The 18.2% peak-to-trough rebound highlights Bitcoin's relative strength relative to stocks. The recovery was driven primarily by aggressive spot buying, as evidenced by the sharp rise in spot cumulative volume increments. The indicator indicates significant buyer buying pressure, especially from U.S. exchanges. The buying pattern is similar to previous activity associated with MicroStrategy and ETF purchases, further confirming the view that institutional demand remains strong.
However, the spot buying pressure that emerged last week may take time to replenish bids, potentially triggering a brief pullback before resuming further upward momentum, with Bitcoin's resilience and continued demand allowing it to continue to strengthen in the medium term.