Analysis: Bitcoin momentum rebounds and bearish sentiment eases, ETF net inflows may become a key variable

ChainCatcher news, Matrixport analyzed in today's chart that although Bitcoin's on-chain data remains under pressure and the price fluctuates around the 21-week moving average, the current trend is more driven by technical and news factors. Against this backdrop, the optimistic sentiment surrounding the China-U.S. trade negotiations adds upward momentum to the market.

Previous reports indicated that the self-developed "Greed and Fear Index" has returned to a historical percentile range where rebounds are more likely to occur, and several technical indicators are giving contrarian bullish signals. However, it may still be too early to reach new highs; although the put premium on the options side has significantly decreased, the key factor remains whether the net inflow of ETFs can continue to consolidate the current positive trend.