Bitcoin Rebounds Past $65,000 Amid Signs of Stabilizing Market

Bitcoin has rebounded past $65,000, sparking hopes that bulls can reclaim the $70,000 mark. According to Glassnode's weekly report, improving on-chain activity and stronger inflows into US spot Bitcoin ETFs are contributing to a gradually stabilizing market.

The blockchain analytics firm noted that trading activity in the spot market remains subdued, suggesting investors have yet to regain conviction to fuel Bitcoin's next major rally.

Despite this, technical indicators are not yet in the overbought region, indicating that Bitcoin could rally higher in the near term. The BTC/USD 4-hour chart is bullish and efficient, with buyers adding nearly 5% to its value in the last seven days.