From Investing.com: 2024-05-03 15:00:19

Bitcoin has surged back above $60,000 after hitting a low of $57,000, signaling a potential rebound. Currently trading at $60,128, Bitcoin has seen a 2.29% increase in 24 hours. Analytics suggest short-term investors may influence price fluctuations, indicating a possible end to the bearish trend.

During bull runs, a short-term rebound often coincides with the short-term SOPR hitting the bottom of the Bollinger Band. Despite market adjustments, general sentiment remains subdued, leading experts to predict a price rebound. The underlying fundamentals of Bitcoin and growing institutional adoption bode well for its long-term prospects.

Read more at Investing.com: Bitcoin (BTC) Reclaims $60,000 as Crucial Metric Points to Price Rebound By U.Today