Last week in BVL052, we asked whether Bitcoin had begun the long climb from the $60k lows.
The answer was not a clean recovery. Bitcoin attempted to move higher, but each effort ran into resistance. The hawkish turn in macro conditions did not help.
As expectations for an easier path toward liquidity faded, Bitcoin once again found caught between improving internal conditions and a market still unwilling to commit to a sustained advance.
The question now is whether Bitcoin is simply pausing inside a fragile range, or whether the first foundations of a strong recovery are beginning to form.
Because before Bitcoin can climb, it first needs to prove that the ground beneath it can hold.
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