Why Bitcoin Is Going Up Today: Will BTC Continue Its Bullish Rebound?

The post Why Bitcoin Is Going Up Today: Will BTC Continue Its Bullish Rebound? appeared first on Coinpedia Fintech News

After teasing below $79k earlier this week, Bitcoin (BTC) price has attempted to regain bullish sentiment. The flagship coin surged 3 percent in the last 24 hours to trade at about $84,233 on Saturday, March 15, 2025. As a result of the mild rebound, more than $71 million was liquidated from the leveraged Bitcoin market, mostly involving short traders.

Top Reasons Why Bitcoin Price Gained Today

Encouraging Inflation Data

In the past two days, major U.S. stock indexes led by the S&P 500 and the Nasdaq recorded mild recovery following an encouraging inflation update. Earlier this week, the U.S. The Bureau of Labor Statistics reported that overall prices rose less for consumers last month than expected despite the ongoing tariff wars triggered by President Donald Trump.

The mild gains in major stock indexes trickled down to the wider crypto assets, led by Bitcoin.

Cooled Leveraged Market

The cryptocurrency market experienced a rather calmer period in the past two days after a notable forced liquidation earlier this week. The heavy liquidation of long traders, which previously triggered a long squeeze, has created an atmosphere that allows mild crypto recovery, led by Bitcoin.

Moreover, the total Bitcoin futures Open Interest (OI) surged by over 5 percent in the last 24 hours to hover about $49 billion.

Gold Price Surge

For the first time in the history of humanity, gold price surged close to $3k per ounce earlier this week. With Bitcoin price perceived as digital gold by nation-states led by the United States, a mild recovery was imminent, and likely to continue in the coming days.

What Next?

After a nearly 30 percent correction since the second inauguration of U.S. President Donald Trump, Bitcoin price is possibly approaching the bottom of the multi-week correction phase. The highly anticipated implementation of the U.S. strategic Bitcoin reserve has rejuvenated bullish sentiment for a parabolic rally beyond $108k in the near future.

However, Bitcoin demand from whale investors remains low compared to last year. The U.S. spot BTC ETFs have now recorded five consecutive weeks of cash outflows. The overall supply of Bitcoin on centralized exchanges has not been dropping in the past few weeks, signaling low demand from whale investors.