Bitcoin has shown signs of stabilization above the $86,000 mark after reclaiming the level earlier this week. This recovery marks a shift in short-term sentiment after several weeks of price turbulence.
While the asset remains down approximately 20.2% from its all-time high set in January, the current rebound suggests a pause in downward pressure and a potential reassessment among market participants.
Despite the recent uptick, traders and analysts remain cautious. Market behavior has been mixed, with on-chain metrics and trading activity offering differing signals.
CryptoQuant contributor Nino recently provided a breakdown of the Coinbase Premium Index and its implications for Bitcoin’s short-term direction, pointing to changing sentiment in the US market.
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