The Zhitong Finance App learned that Bitcoin continued its strong rebound on Thursday, and the price further broke through $72,000. However, after a record bearish squeeze led to a rapid rise in currency prices, market data shows that new leveraged long funds have yet to enter the market on a large scale, which means that this round of increase is still mainly driven by bears to make up. As bearish power is removed on a large scale, whether Bitcoin can continue to rise will increasingly depend on whether spot purchases and ETF capital inflows can pick up.

The Zhitong Finance App learned that Bitcoin continued its strong rebound on Thursday, and the price further broke through $72,000. However, after a record bearish squeeze led to a rapid rise in currency prices, market data shows that new leveraged long funds have yet to enter the market on a large scale, which means that this round of increase is still mainly driven by bears to make up. As bearish power is removed on a large scale, whether Bitcoin can continue to rise will increasingly depend on whether spot purchases and ETF capital inflows can pick up.