Bitcoin demand signals are reviving.

Bitcoin Price Surge

Bitcoin has returned to a value just below 70,000 dollars. It has seen an increase of more than 15% from the intraday low of the past week; however, it is still experiencing a loss of over 10% on a weekly basis.

Investor Behavior

Coinbase Bitcoin Premium Index narrowed from around -0.22% during the downturn to %0.05. This indicates that United States-based investors are taking the price drop as an opportunity. With a decrease in forced sales, demand has been on the rise.

Market Condition

However, the premium not exceeding %0 suggests that low trading volumes and thin liquidity indicate selective buying rather than a broad-based sustained demand.