Bitfinex report: Bitcoin rebounds strongly, buyers are looking forward to it

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MarsBit
04-14
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Mars Finance News: Bitfinex released a report indicating that Bitcoin has strongly rebounded over the past week, reclaiming the $85,000 mark. U.S. President Trump announced a 90-day suspension of new tariffs, easing trade tensions and reigniting risk appetite. The easing of macroeconomic conditions has driven Bitcoin's rebound. Importantly, this rebound was driven by spot market demand rather than leveraged derivative positions, indicating genuine buyer confidence in Bitcoin. Bitcoin closed this week up 6.67%, continuing the 15% rise from its low point, which suggests this pullback is consistent with typical mid-cycle corrections in bull markets. Cumulative spot trading volume increases across major exchanges show continued positive buying pressure, though the price remains trapped between $75,000 and $85,000. This divergence suggests a potential upward breakthrough if supply further decreases. However, a short-term correction is expected early this week, driven by profit-taking. The reaction to this decline—whether buyers continue to absorb supply—will determine if Bitcoin can push towards $90,000.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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