Bitcoin bounced 11% in 24 hours. But nobody’s celebrating. Here’s why.

BTC crashed below $61,000 earlier this month. People called it the end. Crypto Twitter went full funeral mode. The Fear and Greed Index hit 5. That’s the lowest reading EVER recorded. Lower than the FTX collapse. Lower than Luna.

Then something happened. Bitcoin ripped back above $70,000 in a single day. Coinbase stock jumped 18%. Strategy pumped 10%. Billions in short positions got liquidated.

So why isn’t everyone excited?

Because the smart money knows this isn’t a V shaped recovery. Historically Bitcoin doesn’t do that. After major corrections it usually grinds sideways, builds a base, and then moves. The 50 day moving average is sitting around $87K. The 200 day is near $102K. BTC needs to reclaim those levels before anyone should be popping champagne.

But here’s the flip side. CPI came in cooler than expected. Rate cut odds are climbing. And $5.45 billion in short positions are still stacked above current price. If BTC pushes another $10K higher, all of those shorts get liquidated. That’s a potential squeeze waiting to happen.

The analysts are split. Some see $50K this summer. Others see $150K by year end. Bernstein just reaffirmed their $150K target even after this crash.

My take? The bottom might not be in yet. But the fear is way overdone. Every cycle has this moment where everyone gives up right before the turn.

The ones who survive the boring part are the ones who win the next leg.

#BitcoinETFs #BuyTheDip #BTCRebound #CryptoMarket #Write2Earn