According to Bloomberg, on Wednesday, Bitcoin (BTC) continued its rebound, reaching a two-week high and rising as much as 2.6% intraday to around $93,965, the highest level since November 17, before retreating to around $93,300. Ethereum and other major tokens also saw modest gains as the cryptocurrency market attempted to regain momentum after weeks of heavy selling. However, market sentiment remains fragile, with investors staying cautious.
Since Bitcoin broke its all-time high of $126,000 in early October, the market has undergone a sharp correction, with the total market capitalization of digital assets evaporating by more than $1 trillion. Sean McNulty, Head of Derivatives Trading for Asia Pacific at FalconX, noted, “We haven’t seen much buying interest at higher levels; market sentiment is still fragile.” Capital inflows have also been limited, with Bloomberg data showing that the 12 US Bitcoin ETFs attracted only about $59 million in inflows on Tuesday, which is considered “weak.”
Recent market volatility has been significant. On Monday, Phong Le, CEO of Strategy Inc., mentioned that the Bitcoin accumulation fund might need to sell cryptocurrency to repay debt, causing a short-term price drop. However, the company later announced the establishment of a $1.4 billion reserve fund to ensure liquidity. On Tuesday, Bitcoin prices rebounded, supported by news that the US Securities and Exchange Commission plans to launch “innovation exemption” measures for digital asset companies, and that Vanguard Group would allow ETFs and mutual funds holding cryptocurrencies to trade on its platform.
Data from Coinglass shows that about $400 million in short positions were liquidated in the past 24 hours, reflecting sharp short-term market swings. QCP Group CEO Melvin Deng stated that this rebound looks more like a “relief rally,” but Bitcoin could use it to regain some momentum. He suggests that investors who have not yet significantly positioned in Bitcoin could look for entry opportunities.
Overall, Bitcoin’s two-week high has provided a short-term boost to the market, but investor confidence has yet to fully recover. The market remains highly volatile, and future price trends will depend on institutional capital inflows and policy developments.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ARK Invest's Bitcoin 'Conviction Buyers' Holdings Surge 69% in Q1, Hitting Highest Level Since 2020
Gate News message, April 24 — ARK Invest reported that its "Conviction Buyers" bitcoin holdings surged from 2.13 million BTC to 3.6 million BTC in the first quarter of 2026, an increase of 69% and the highest level since 2020. The growth occurred despite bitcoin's price declining 22% during the
GateNews43m ago
Largest Bank in Brazil Moves to Invest in Bitcoin Mining
Itau Unibanco, through its VC arm Itau Ventures, has made an undisclosed investment in Minter, a company that installs mobile data centers and bitcoin mining operations across Brazil. Minter’s approach allows it to take advantage of surplus energy that would otherwise be wasted.
Key Takeaways:
It
Coinpedia1h ago
Bitcoin ETFs Record $335.8M Inflows as Rolling Flows Turn Positive
US spot Bitcoin ETFs recorded US$335.8 million in net inflows on April 22, according to Farside Investors data, marking a return to positive territory across every major rolling period. BlackRock's IBIT led the session with US$246.9 million in inflows, signaling renewed institutional demand for regu
CryptoFrontier1h ago
US Government Operating Bitcoin Node Without Mining, Admiral Indicates
A senior admiral has indicated that the US Government is actively operating a node on the Bitcoin network while deliberately avoiding participation in mining activities. The disclosure suggests that authorities are taking a more involved role in blockchain infrastructure for oversight and
CryptoFrontier1h ago
Bitcoin Stalls at $77.8K Amid Japan Inflation Surge and Iran War Tensions
Gate News message, April 24 — Crypto markets weakened on Friday as Bitcoin hovered near $77,800 and Ethereum fell to $2,300 with a 24-hour decline of 0.8%. The uptrend that began Wednesday from $65,000 has visibly slowed, with Ethereum underperforming Bitcoin.
Market pressure stems from Japan's Mar
GateNews2h ago
