Bitcoin continues to hover around the $110,000 level amid signs of a cryptocurrency market recovery. Recent changes in the Coinbase Premium index raise hopes for improved demand in the US.
Coinbase Premium Rebound and Liquidations
Following a wave of liquidations totaling over $700 million, Bitcoin showed a decline, reaching a low of $108,717 on the Bitstamp platform. Market participants began discussing the possibility of returning to the $100,000 support level, though some traders, such as BitBull, predict an approach to the bottom. He noted: “BTC is now getting closer to the bottom. There is still a chance of $106K-$108K level retest, but for now, I'm expecting a bounceback.”
Historical Data Analysis
Analyst Cas Abbe pointed out that Bitcoin's current price behavior resembles its actions during a retracement in June, when it reached all-time highs of $112,000. He noted that the BTC chart has an uncanny resemblance to the Q2 2025 fractal, including similar lower-lows and capitulation.
Recovery Prospects and ETF Flows
Despite negative market sentiment, Bitcoin ETFs achieved positive flows of just under $220 million. This may indicate renewed interest from institutional investors, despite recent outflows.
Thus, the current events in the Bitcoin market, including positive signals from Coinbase Premium and unexpected ETF inflows, may indicate an upcoming recovery following recent losses.
