Bitcoin ($BTC ) is currently staging a high-stakes recovery attempt, rebounding over $10,000 from its recent intraday lows to reclaim the $71,000 level. This "pump" is primarily driven by aggressive "buy-the-dip" sentiment from institutional investors who view sub-$70,000 prices as a rare entry opportunity following a brutal week that saw the market fall into "Extreme Fear". Despite a period of "bloodletting" that wiped out 30% of Bitcoin's value in three months, the network's underlying system remains intact. Analysts from Bernstein highlight that this cycle's strength is anchored by unprecedented institutional synergy—including the adoption of spot Bitcoin ETFs, increasing corporate fund allocations, and a pro-crypto U.S. political environment—which is effectively absorbing the panic selling triggered by events like Bithumb's accidental $40 billion transfer.
Technically, $BTC is at a critical tipping point as it battles to flip the $73,000 resistance into support. While the asset remains pinned below its 50-day and 100-day EMAs, the daily RSI recently hit a rare "extremely oversold" level of 18, signaling that a relief rally was overdue. This recovery is supported by a massive surge in stablecoin inflows to exchanges, indicating that sideline capital is finally being deployed to protect the $60,000 psychological floor. To confirm a long-term structural reversal, bulls must sustain high volume above $71,000 to target a squeeze toward the $79,360 zone. With long-term price targets remaining as high as $150,000 by year-end, this move is being viewed by many as a necessary "deleveraging" event that has reset the market for its next leg up.