Bitcoin Reaches Two-Week High as Participation Strengthens

Bitcoin's price has reached a two-week high of $64,000 in early trading on Tuesday morning, according to CryptoPotato. This marks an early sign of stabilization for the asset, as it exits an extreme negative regime.

The analytics firm Swissblock reported that the price momentum is shifting, with on-balance volume (OBV) starting to support this regime shift. OBV measures cumulative buying and selling pressure by analyzing volume flow.

While Bitcoin has gained 10% from its cycle low of around $58,000 on June 30, it remains down 50% from the October peak. Swissblock notes that participation is strengthening, which would strengthen the recovery signal.

Glassnode reported that selling has cooled and the asset is 'easing into consolidation.' However, hot capital is creeping back in, which could stir up volatility even as profits climb.