Bitcoin Price Is Rebounding Sharply Today, Here’s Why

• Bitcoin price saw sharp bounce today despite investors remain cautious ahead of CPI inflation print.

• Mix of macro and technical factors including easing global yields and falling oil prices.

• Bitcoin chart patterns shows bullish continuation toward $94,000.

Bitcoin price is rebounding more than 3% today, bouncing from $81,017 to $84,074. The sharp rise comes amid a mix of macro and technical factors. Traders remain bullish amid BTC buys by Strategy and other corporate Bitcoin treasuries.

Derivatives markets are also showing massive buying across CME, Binance, and other crypto exchanges. Notably, Bitcoin futures open interest jumped almost 3% in the past few hours.

Macro-Driven Bitcoin Price Rebound

Bitcoin price shows upside move after US President Donald Trump's comments on Russia and Ukraine ceasefire. He believes both Putin and Zelenskyy want to reach a deal to end the war in Ukraine, but "they don't know how."

Also, Trump does not believe China and Russia are helping Iran. "They have too much to lose, and we would know about it," he added. As a result, oil prices fell to almost $92 per barrel on Tuesday.

"Prices are coming down and as soon as the war ends, which will be very soon with Iran, the oil will drop like a rock," Trump said.