Bitcoin price rebound seen as temporary rally

Crypto market makers and analysts say the recent rise in Bitcoin’s price is a short‑term bounce rather than a lasting trend reversal. Wintermute noted that the 10 % climb to around $64,000 reflects temporary relief from ETF inflows, easing macro conditions and a dovish Fed stance, but warned that structural weaknesses persist. CryptoQuant characterised the move as a "bear market recovery", emphasizing seasonal patterns and the lack of sustained on‑chain improvements such as declining exchange reserves or persistent spot buying. On‑chain data from CryptoQuant and X‑WIN show demand recovery, with ETF‑related inflows and a modest improvement in US investor activity, yet the Bull Score Index remains at 20, indicating overall market weakness. Finbold described the rally as a possible dead‑cat bounce, pointing to rising futures demand and continued spot weakness, while long‑term holders are still selling at a high rate. Analysts suggest further confirmation—such as continued ETF inflows, stronger on‑chain accumulation, or supportive policy changes—would be needed before the rally can be viewed as a genuine uptrend.