Bitcoin
Why Bitcoin is up 1.1% in the last hour
Analysis
Bitcoin rose 1.1% over the past hour as it rebounded above $61,000, with reporting pointing to long-term holders accumulating even while ETF flows remained net negative. The Block noted “accumulation beneath the surface” alongside steady ETF outflows, suggesting spot demand helped stabilize and lift price.
Contributing Factors (3)
‘Accumulation beneath the surface’: Bitcoin rebounds above $61,000 as long-term holders accumulate amid steady ETF outflows
Bitcoin reclaims $61,000 as Glassnode and Bitfinex flag long-term holder accumulation beneath persistent ETF selling.
JPMorgan says Strategy's bitcoin sales policy adds 'two-way risk' to crypto markets
The bank said Strategy's bitcoin sales policy adds avoidable market uncertainty and should be replaced with equity issuance to build cash reserves.
Live markets: Bitcoin holds above $60,000 as yen jumps on intervention fears
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.