Bitcoin surged 25% this week and nearly cleared the $80K mark after $4 billion in short liquidations. Galaxy Research stated that the end of the bear market could be confirmed if BTC reclaims the $82K level, based on the 50-week moving average: in 11 out of 13 times BTC reclaimed this level during completed bear markets, the bear-market low was in. Jake Ostrovskis, head of OTC trading at Wintermute, however tempered the optimism by pointing out the lack of full institutional participation, with basis yield remaining below 5% versus an average of 10% during the 2024 bull run. Jason Calanis, founder of All In Podcast, called the rally a dead-cat bounce, signaling a potential fake breakout.
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