Bitcoin surged about 22% last week, posting its biggest three-day gain since 2023 and breaking above its 200-day moving average at $69,050. Spot bitcoin ETFs attracted roughly $1.6 billion in new cash, indicating the rally was not solely fueled by forced buying. Digital asset treasury firms and miners collectively sold about $4.2 billion in bitcoin in the first half of 2026, more than in any other comparable period. According to analysts at Needham and 22V Research, this combination of heavy selling and depressed sentiment suggests weak hands have been flushed out, positioning the market for fresh buying and substantial further gains.
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