Bitcoin
Why Bitcoin is up 1.6% in the last hour
Analysis
Bitcoin rose 1.6% over the past hour as dip-buying followed a sharp sell-off, with Cointelegraph noting BTC rebounded toward $71.5K even as derivatives indicators remained relatively soft. Sentiment also appeared supported by ETF-related headlines: CoinDesk reported BlackRock’s bitcoin fund hit a $10B volume record, which it framed as a possible sign of capitulation/peak selling, while U.Today highlighted Fidelity calling $65K an “attractive entry point,” reinforcing the buy-the-dip narrative.
Contributing Factors (3)
Bitcoin rallies to $71.5K after historic sell-off, but derivatives metrics remain soft
Bitcoin price soared back above $71,000 but BTC options data shows pro traders are still extremely cautious about the sustainability of the rebound rally. Is the sell-off really over?
BlackRock's bitcoin fund hits $10 billion volume record, hinting at peak selling
Record volume, redemptions and pronounced tilt toward put options points to institutional capitulation.
Bitcoin (BTC): Fidelity Identifies $65K as 'Attractive Entry Point'
Jurrien Timmer, director of global macro at Fidelity Investments, has identified the $65,000 level as an "attractive entry point" for Bitcoin (BTC).
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.