Bitcoin has bounced back to $95,000 after hitting a local low of $90,742 on Nov. 26, sparking optimism that the cryptocurrency is poised for another rally toward $100,000. Key indicators suggest the $90K dip was a market bottom:
1. Rising U.S. Demand: The Coinbase Premium Index, a measure of U.S. retail investor interest, rebounded from -0.0387 to 0.091, signaling renewed demand.
2. ETF Inflows Resume: U.S. spot Bitcoin ETFs flipped positive on Nov. 26 with $103 million in net inflows, reversing a two-day outflow of $558 million.
3. Market-Wide Recovery: The total cryptocurrency market valuation rose 7.3% between Nov. 26 and Nov. 28, reaching $3.32 trillion.Analysts view these trends as signs of a stable support level at $90K, setting the stage for Bitcoin’s next push toward its historic $100,000 milestone.
Source: Cointelegraph
