In the last 24 hours, the cryptocurrency market has experienced a remarkable rebound. Bitcoin ($BTC ) reached an intraday high of approximately $94,000, marking its highest level in seven weeks. This rise represents an increase of more than 6% in a single day.

This upward impulse was also reflected in other important cryptocurrencies:

•Ethereum ($ETH ): rose more than 10%, trading around 1,739 dollars.

•Dogecoin (DOGE): experienced a significant increase, contributing to the general enthusiasm of the market.

The rebound has generated a wage of settlements of short positions, with more than 500 million dollars in losses for those who bet on the bottom, which suggests a possible “short squeeze” in progress.

Analysts attribute this movement to several factors:

•Optimism around the trade war: signs of progress in the negotiations have improved investor confidence.

•Upward technical rupture: technical indicators suggest a continuation of the positive trend.

Increase in purchases by large investors: a resurgence in significant purchase orders on exchanges has been observed.

As for the total capitalization of the cryptocurrency market, it has increased by 6.7%, reaching 2.66 trillion dollars.

This scenario suggests a renewed interest and confidence in the crypto market, with Bitcoin leading the way to possible new historical highs.