Bitcoin Price Surges Towards $66,000 Amid Renewed Risk Appetite

Bitcoin's price has experienced a significant surge, reaching towards the $66,000 mark as US equities rebounded from a softer spell for crypto markets. The move is attributed to a combination of factors, including regained liquidity, regulated access via spot BTC ETFs, and a return of domestic buyers.

The resilience of Bitcoin's price reflects a broader market rally led by technology and AI names. The Nasdaq posted modest gains, while the S&P 500 edged higher, signaling renewed risk appetite. Observers attribute the move to improved liquidity conditions, which have facilitated access to regulated crypto products via spot BTC ETFs.

On-chain analysis suggests that Bitcoin's correlation with stocks and gold has weakened to levels not seen since 2022. However, analysts expect reversion during risk-on cycles. The combination of improving liquidity conditions and a return of domestic buyers is supporting a constructive near-term bias for Bitcoin's price.