After crashing to multi-month lows near $60,000, Bitcoin staged a powerful rebound above $70,000, recording one of its largest single-day gains in years. The sudden surge caught many traders off guard after weeks of relentless downside pressure.
The bounce came as oversold conditions, short covering, and liquidation relief fueled aggressive buying. However, despite the strong candle, overall market structure remains weak, with Bitcoin still below key higher-timeframe resistance zones.
Ether followed a similar path, rebounding sharply after tapping near-term lows, signaling a broader relief rally across majors — not a full trend reversal.
What to watch:
This move looks more like a volatility-driven rebound than renewed bull control. Bulls now need follow-through and reclaim of broken levels; otherwise, this risks turning into another lower high.
📊 Big bounce, fragile structure — confirmation matters more than excitement now.
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