Bitcoin $BTC ( ▲ 5.11% ) caught a bid following President Trump’s State of the Union address, climbing nearly 6% over the past 24 hours and briefly touching the $66,900 level. The bounce comes after the cryptocurrency dipped toward $62,000 earlier in the week, offering traders a short-term reprieve.
Even with the rebound, Bitcoin remains down roughly 17% for the month, underscoring just how volatile recent weeks have been.
ETF inflows return
Adding to the momentum, Bitcoin exchange-traded funds saw renewed inflows Monday, pulling in about $257.7 million, the largest daily intake since early February.
Some analysts say the move signals buyers are stepping back in after a prolonged stretch of selling pressure. One researcher described the rally as Bitcoin “finally fighting back” after months of turbulence.
Still, the optimism comes with caution.
Relief rally, not a regime shift
Experts warn that this bounce doesn’t necessarily signal a broader structural turnaround. The same macro headwinds that have pressured crypto markets remain firmly in place.
Tariff tensions, geopolitical uncertainty, and concerns over digital asset treasury sales continue to weigh on sentiment. In other words, the forces that pushed Bitcoin lower haven’t disappeared overnight.
Key technical levels are also in focus. Analysts are watching the mid-$64,000 area for potential long squeezes that could trigger fresh downside, while sustained strength above the mid-$66,000 range could force short sellers to cover.
The technical picture stays fragile
From a chart perspective, Bitcoin is still trading below major reference points, including its 200-week exponential moving average and its point of control, levels often viewed as important markers for longer-term trend health.
For now, the bounce offers a psychological boost after weeks of weakness. But until macro conditions stabilize and key technical thresholds are reclaimed, traders appear hesitant to declare crypto winter officially over.