According to Bloomberg, on Wednesday, Bitcoin (BTC) continued its rebound, reaching a two-week high and rising as much as 2.6% intraday to around $93,965, the highest level since November 17, before retreating to around $93,300. Ethereum and other major tokens also saw modest gains as the cryptocurrency market attempted to regain momentum after weeks of heavy selling. However, market sentiment remains fragile, with investors staying cautious.
Since Bitcoin broke its all-time high of $126,000 in early October, the market has undergone a sharp correction, with the total market capitalization of digital assets evaporating by more than $1 trillion. Sean McNulty, Head of Derivatives Trading for Asia Pacific at FalconX, noted, “We haven’t seen much buying interest at higher levels; market sentiment is still fragile.” Capital inflows have also been limited, with Bloomberg data showing that the 12 US Bitcoin ETFs attracted only about $59 million in inflows on Tuesday, which is considered “weak.”
Recent market volatility has been significant. On Monday, Phong Le, CEO of Strategy Inc., mentioned that the Bitcoin accumulation fund might need to sell cryptocurrency to repay debt, causing a short-term price drop. However, the company later announced the establishment of a $1.4 billion reserve fund to ensure liquidity. On Tuesday, Bitcoin prices rebounded, supported by news that the US Securities and Exchange Commission plans to launch “innovation exemption” measures for digital asset companies, and that Vanguard Group would allow ETFs and mutual funds holding cryptocurrencies to trade on its platform.
Data from Coinglass shows that about $400 million in short positions were liquidated in the past 24 hours, reflecting sharp short-term market swings. QCP Group CEO Melvin Deng stated that this rebound looks more like a “relief rally,” but Bitcoin could use it to regain some momentum. He suggests that investors who have not yet significantly positioned in Bitcoin could look for entry opportunities.
Overall, Bitcoin’s two-week high has provided a short-term boost to the market, but investor confidence has yet to fully recover. The market remains highly volatile, and future price trends will depend on institutional capital inflows and policy developments.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
MicroStrategy buys 34,164 BTC in one week, spending $2.54 billion: the third-largest purchase in history, with total holdings of 815k BTC surpassing BlackRock
MicroStrategy bought 34,164 bitcoins for $2.54 billion last week, bringing its total holdings to 815k BTC, making it the largest bitcoin-holding institution in the world. The funding source was mainly raised through STRC preferred shares and common stock offerings, reflecting a signal from institutions to buy in the face of market weakness. Although the MSTR stock price faces short-term pressure, it still shows a strong long-term capital allocation trend, providing multiple ways for investors in Taiwan to participate.
ChainNewsAbmedia14m ago
Tether Holds 8.2% Stake in Bitcoin Mining Finance Firm Antalpha Following $49.3M IPO
Tether and CEO Giancarlo Devasini own 1.95 million shares (8.2%) in Bitcoin mining finance company Antalpha, which raised $49.3 million in its IPO. Antalpha offers Bitcoin-collateralized lending and has a $1.6 billion loan portfolio.
GateNews18m ago
Crypto ETPs Record $1.4B Weekly Inflows as Bitcoin Rally Extends Rally Optimism
Cryptocurrency ETPs saw $1.4 billion in inflows last week, marking the highest since January, driven mainly by Bitcoin. Year-to-date inflows reached $3.8 billion, boosted by positive geopolitical sentiment and Bitcoin price increases.
GateNews58m ago
Empery Digital Reduces Bitcoin Holdings by 20 BTC, Total Position Falls to 2,914
Empery Digital sold 20 BTC for around $1.5 million, raising its total holdings to 2,914 BTC. The company plans to continue selling bitcoin to fund share repurchases and manage debt.
GateNews1h ago
Ionic Digital's Bitcoin Mining Output Falls 14.9% in March, Holdings Rise to 2,815 BTC
Ionic Digital reported a 14.9% decline in March bitcoin mining output, producing 28.05 BTC with a hash rate decrease of 19.4%. The company holds 2,815.6 BTC and maintained zero debt, selling no bitcoin in March.
GateNews1h ago
Bitcoin ETFs pulled in nearly $1 billion in a single week, setting the biggest weekly net inflow record since January
Bitcoin spot ETF posted a net inflow of $996 million for the week, hitting a new high since January. BlackRock’s IBIT led the way. Total assets under Bitcoin spot ETFs surpassed $100 billion, and the institutional allocation trend continues.
GateInstantTrends1h ago
