Bitcoin
Why Bitcoin is up 10.3% today
Analysis
Bitcoin rose 10.3% over the past 24 hours as markets reacted to signs of capitulation and renewed demand around major ETF activity, after BlackRock’s bitcoin fund reportedly hit a $10B volume record—an indicator CoinDesk said can coincide with “peak selling” and a rebound. Cointelegraph also noted BTC rallying toward $71.5K following a historic sell-off, even as derivatives indicators remained soft, suggesting the bounce was driven more by spot/flow dynamics than leveraged positioning.
Contributing Factors (3)
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.
Institutions don't want more risk—they want bitcoin yield that works like TradFi, says GlobalStake co-founder
Collateralized, market-neutral strategies, not DeFi or smart contracts, are driving renewed institutional interest, says GlobalStake co-founder Thomas Chaffee.
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?
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.