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Bitcoin has rebounded to $96K, fueled by its resilience amid rising inflation, which bolsters its status as a "safe-haven" asset. This rebound came after four straight days of losses following its record high of $99,317. On-chain data points to a potential bottom formation near $90K, with investor reactions preventing further declines.¹

Key Factors Driving Bitcoin's Rebound

- Increased Adoption: Bitcoin's on-chain data confirmed a "local" bottom at $90K, driven by increased adoption and strategic investors securing profits.
- Inflationary Pressures: Bitcoin's resilience amid rising inflation has sparked speculation that U.S. investors may sustain their trading appetite to push BTC back to $99K.

Potential Breakout Above $100K

While a bottom may have formed, it's essential to note that this could represent a "local" bottom rather than a true "market" bottom. A reversal remains a possibility unless Bitcoin shows similar activity at price levels historically seen as "high-risk,

Investors should remain cautious despite Bitcoin's rebound. Risks of market volatility and potential price manipulation persist. Conduct thorough research, diversify investments, and stay informed to protect your crypto assets.