Bitcoin's recent rebound is simply a landslide, with the previously suppressed bears being kicked over in one shot!

While everyone was still debating where the bottom might be, Bitcoin suddenly gained momentum, with a single-day increase surpassing 10%, as if it had a cheat code, pushing close to $70,000. This long-awaited violent surge instantly ignited the long-dormant market, leaving those who were bearish at $50,000 completely stunned. The bottom signal lights have finally been fully triggered!

Behind this, there are actually several forces working together. First, the US tech stocks are going crazy, especially a certain chip giant’s earnings report that dazzled everyone, injecting strong confidence into risk assets; secondly, expectations of Federal Reserve rate cuts are changing, and the money in everyone’s pockets is starting to stir again.

Most importantly, the recent negative news about market makers manipulating ETF prices, which was a big fuss, has turned into a positive signal once the bad news was digested! Coinbase’s premium turned positive, and the foreign traders over in the US clearly started to rush in.

Now, the market sentiment is shifting faster than flipping through a book. The greed index has jumped from extreme fear straight into the greed zone at 65. On social media, searches for how to buy Bitcoin are trending top, and everyone’s FOMO is at a boiling point.

Plus, top holders in the industry are loudly calling for buy-ins with diamond hands, insisting they won’t sell, which is just pouring gasoline on the fire, boosting market confidence to the max!

However, despite the celebration, sober traders still need to look at the technicals. The consolidation after five consecutive monthly declines isn’t over yet, and the current structure isn’t fully set. Short-term traders should not get carried away; chasing highs before a proper pullback to support levels is likely to leave you standing on the sidelines. At this point, strict risk management is more important than anything else—don’t gamble away your chips before dawn!

A seasoned trader is very firm, saying they won’t close their high-position shorts and even plans to open a short at 66,100, aiming for a range-bound high short strategy. On-chain analysts suggest steady steps: place spot orders in batches around 62,500, treat filled orders as bargains, and don’t chase after unfilled ones. In short, take advantage of the rebound to do some swing trading to lower your average cost; if there’s no rebound, hold long-term. Never jump back and forth in big volatility.

This wave is a classic case of bad news turning into great news! Seeing all those green candles on the screen really makes people itchy, but you have to understand that we’re not at that stage where you can buy blindly and get rich!

The big players’ calls are backed by deep pockets, but as small retail investors, we still need to stay cautious. Don’t get caught up in the excitement now; rushing in without patience might just be helping others lift the market. Stay calm, wait for a pullback before entering, and don’t always think you can eat the whole pie in one bite! #深度创作营 $BTC