The BTC/USD pair must sustain above $116k to avoid a selloff towards $111k in August. The talk about Fed chair replacement has increased the odds of a rate cut in the United States before the end of 2025, which is bullish for crypto. High conviction by long-term holders has absorbed profit distribution from short-term holders. Bitcoin has staged a strong rebound, climbing 2.1% in the past 24 hours to reclaim the key support level above $116,000. This bounce has rejuvenated bullish sentiment across the market, pushing the Fear and Greed Index up to 62, indicating “Greed.” Adding to the positive signs, the derivatives market appears healthy. Only $262 million in positions was liquidated during the move, a low number that suggests the rebound is being driven by strong spot demand, not an overheated futures market. The Bigger Picture: This recent dip-buying is part of a larger, unusual trend. Here’s our analysis on why many are calling this a “ calm bull run .” On-Chain Data: Why Did Bitcoin Bounce? According to on-chain data analysis provided by Glassnode, Bitcoin price rebounded from a range of low liquidity below the support level around $116k and above… The post Bitcoin Rebounds Above $116K After Investors Buy 120K BTC on the Dip appeared first on Coin Edition .
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