Bitcoin Rebounds to $71,000, Lifting Crypto Market

Bitcoin serves as the crypto market’s primary benchmark, with its price swings often setting the tone for investor risk appetite and flows into smaller tokens. The rebound is particularly important for Michael Saylor’s Strategy, whose long-running policy of acquiring bitcoin with corporate cash and borrowed funds has left its balance sheet and market narrative closely tied to the cryptocurrency’s performance.

Bitcoin surged above $78,000 in the latest week and posted the largest weekly candle on record in nominal dollar terms, pushing Strategy’s bitcoin position back into profit. The advance broadened across the digital-asset market, with leading altcoins among the 10 largest cryptocurrencies rebounding more than 50% from recent lows. The move suggests capital is spreading beyond bitcoin as traders rebuild exposure to higher-risk tokens.

Bitcoin is a key barometer for the crypto market, and sharp price gains can force bearish traders to cover their positions, triggering a short squeeze. Its move above $78,000 marked a 10-week high and signaled rising market participation and leverage, drawing attention to heightened volatility and the risk of cascading liquidations.

As of July 19, Bitcoin had briefly topped $79,000 and was testing the $78,000 resistance zone, lifting altcoins and putting Circle, Coinbase and Strategy in focus. Total liquidations exceeded $820 million over the previous 24 hours, including about $660 million in short positions, which accounted for more than 80% of the total.

The Coinbase Premium Index tracks the Bitcoin price gap between Coinbase in the United States and other exchanges. A sustained positive reading typically signals stronger U.S. spot buying. The index remained above zero for 14 consecutive days, its longest bullish streak since Bitcoin set a record above $126,000 in October 2025, making it an important sign of recovering demand.

Bitcoin broke back above $76,000 on Tuesday, April 21, as Coinbase-led spot cumulative volume delta, or CVD, rose to $517 million from $55 million on April 17. Combined spot and futures CVD exceeded $8.5 billion. Bitcoin subsequently consolidated below $77,000, shifting the market's focus to whether $75,000 can become long-term support.

Bitcoin has recently swung sharply at elevated levels, with leveraged trading allowing even modest price moves to trigger cascading liquidations. Although market sentiment has recovered from “extreme fear,” investors remain focused on interest-rate signals from the U.S. Federal Reserve’s Federal Open Market Committee to assess whether capital will continue flowing back into risk assets.

Bitcoin rebounded after establishing a floor at $74,800, briefly climbing to $76,900 and returning to around $76,000. Crypto-market liquidations totaled about $270 million over the past 24 hours, with short positions accounting for 72% of liquidations during the latest four-hour period. The market’s next focus is the April 24 options expiry, when position adjustments could amplify volatility again.

Bitcoin has not traded above $75,000 since February 2. After briefly touching $95,000 on February 5, it fell to about $62,000 and then entered a period of consolidation. Mati Greenspan, founder of Quantum Economics, said $75,000 is the key threshold for confirming whether the market can shift from consolidation into a fresh uptrend.

As of April 14, Bitcoin was closing in on $75,000. U.S. spot Bitcoin ETFs recorded $1.32 billion in net inflows in March, ending four consecutive months of net outflows. Han Tan, chief market analyst at Bybit Learn, said a decisive breakout could open the way toward the $85,000 range, while $65,000 would remain the main support level if the breakout fails.

Bitcoin has seen buying significantly outpace selling near $65,000, indicating that investors are actively buying the dip. This rare trading setup matters because sustained market support could ease near-term selling pressure and create conditions for a rebound from recent lows.

The latest data puts BTC’s key threshold at $66,700. Analysts say holding consistently above that level could trigger a relief rally toward $71,000, representing a potential gain of about 6.4%. The reports did not identify the data provider, the date of the figures or the observation period.

The market had been weighed down by a February selloff and extreme pessimism after U.S. spot Bitcoin ETFs recorded $3.8 billion in net outflows over five consecutive weeks. Crowded leveraged short positions also left the market vulnerable to a short squeeze when prices rebounded. Whether ETF inflows resume has become a key indicator of risk appetite among U.S. institutional investors.

On February 25, Bitcoin rose more than 5% over 24 hours to $67,500 in early U.S. trading. ETH reclaimed $2,000, while major tokens including SOL and DOGE gained more than 10%. CoinGlass recorded more than $307 million in short liquidations. U.S. spot Bitcoin ETFs posted net inflows of $506.5 million that day, including $297.4 million for BlackRock’s IBIT.

On March 25, 2026, Bitcoin rebounded about 2% in a single day to reclaim $72,000 after retesting its 50-day simple moving average. The moving average shifted from resistance to near-term support, but Material Indicators and CoinGlass both identified sell orders and profit-taking around $72,000. Holding that level is therefore pivotal to extending the rally.

On April 8, Bitcoin climbed another 7% and reclaimed $72,000. Active buying volume in Binance futures increased by $2.7 billion in the two hours after news of a U.S.-Iran ceasefire, while CryptoQuant said net taker volume rose to $1.02 billion, its highest since March 17. Technical resistance is initially seen at $76,000 and $80,000, while a symmetrical triangle pattern points to a potential target of $90,000.

Bitcoin came under pressure in early March 2026 amid tensions in the Middle East and volatility across risk assets. The latest comments from U.S. President Donald Trump on the war with Iran improved market sentiment and drew capital back into the market. With leveraged derivatives positions heavily concentrated, price breakouts can trigger cascading liquidations that amplify short-term moves in either direction.

On March 10, TradingView showed Bitcoin trading at about $70,780 on Bitstamp, up 4.5% over 24 hours. The rebound liquidated roughly $186 million in short positions. CryptoReviewing said the price could first sweep liquidity at $72,000, but CoinGlass data showed about four times as much liquidity below the market between $64,000 and $68,000, leaving the risk of a pullback high.

Bitcoin has failed to reclaim the $70,000 level since its sharp selloff on February 5, 2026, shifting the market’s focus to whether forced selling has subsided. Market maker Wintermute said capital is flowing into defensive and real-world assets, while Matrixport warned that stablecoin supply has stalled, leaving the rebound’s durability dependent on liquidity.

Bitcoin approached $70,000 on February 25 before retreating to about $68,300 in early trading on February 26, after an overnight low of $67,700. It was still up 4.3% on the day. Ether, Solana, Cardano and Dogecoin gained 8.5%, 6.9%, 10.8% and 8.3%, respectively, signaling a shift into high-beta tokens.