#比特币反弹

# Bitcoin Rebound: Market Confidence Recovery and Structural Opportunities

Due to the rising expectations of the Federal Reserve pausing interest rate hikes and continuous inflows of institutional funds into spot ETFs, Bitcoin has recently rebounded strongly from a low of $61,000, breaking through the key resistance level of $67,000. This recovery not only reflects expectations of improved macro liquidity but also highlights structural changes in the cryptocurrency market:

**Halving Cycle Effect**: After the block reward halving in April, the selling pressure from miners has weakened, coupled with a slowdown in supply growth, reinforcing the long-term bullish logic.

**Acceleration of Institutionalization**: Asset management giants like BlackRock have surpassed 300,000 holdings, and the first batch of Bitcoin spot ETFs in Hong Kong has been approved, driving compliant funds into the market.

**Technical Breakthrough Signals**: The weekly level has stabilized above the EMA30 moving average, and on-chain data shows that long-term holders account for 76%, with accumulated chips supporting the price center's upward movement.

Although geopolitical risks and regulatory uncertainties still exist, market consensus points to the possibility of a "historic upcycle in the 6-12 months post-halving." Investors need to pay attention to the 10-day moving average support and the pace of CME futures gap filling, seizing structural opportunities amid short-term volatility.