The post Why Bitcoin Is Going Up Today: Will BTC Continue Its Bullish Rebound? appeared first on Coinpedia Fintech News
After teasing below $79k earlier this week, Bitcoin (BTC) price has attempted to regain bullish sentiment. The flagship coin surged 3 percent in the last 24 hours to trade at about $84,233 on Saturday, March 15, 2025. As a result of the mild rebound, more than $71 million was liquidated from the leveraged Bitcoin market, mostly involving short traders.
Top Reasons Why Bitcoin Price Gained Today
Encouraging Inflation Data
In the past two days, major U.S. stock indexes led by the S&P 500 and the Nasdaq recorded mild recovery following an encouraging inflation update. Earlier this week, the U.S. The Bureau of Labor Statistics reported that overall prices rose less for consumers last month than expected despite the ongoing tariff wars triggered by President Donald Trump.
The mild gains in major stock indexes trickled down to the wider crypto assets, led by Bitcoin.
Cooled Leveraged Market
The cryptocurrency market experienced a rather calmer period in the past two days after a notable forced liquidation earlier this week. The heavy liquidation of long traders, which previously triggered a long squeeze, has created an atmosphere that allows mild crypto recovery, led by Bitcoin.
Moreover, the total Bitcoin futures Open Interest (OI) surged by over 5 percent in the last 24 hours to hover about $49 billion.
Gold Price Surge
For the first time in the history of humanity, gold price surged close to $3k per ounce earlier this week. With Bitcoin price perceived as digital gold by nation-states led by the United States, a mild recovery was imminent, and likely to continue in the coming days.
What Next?
After a nearly 30 percent correction since the second inauguration of U.S. President Donald Trump
Donald Trump
Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election
President
Bitcoin price is possibly approaching the bottom of the multi-week correction phase. The highly anticipated implementation of the U.S. strategic Bitcoin reserve has rejuvenated bullish sentiment for a parabolic rally beyond $108k in the near future.
However, Bitcoin demand from whale investors remains low compared to last year. The U.S. spot BTC ETFs have now recorded five consecutive weeks of cash outflows. The overall supply of Bitcoin on centralized exchanges has not been dropping in the past few weeks, signaling low demand from whale investors.