- Bitcoin surged 3.5% in the early hours of Wednesday, February 25.
- Traders responded to President Trump’s State of the Union address.
- Technical patterns and institutional demand drive Bitcoin’s latest recovery.
Bitcoin bounced off support at $62,525 yesterday after a period of heavy selling, reflected by a sustained decline. That latest bounce portrays a relief rally, which extended about 3.5% in the early hours of Wednesday, with the cryptocurrency rallying to $66,311 before pulling back slightly to trade at $65,384 at the time of writing, according to data from TradingView.
The Effect of Trump’s Speech Amid Technical Structures
The ongoing Bitcoin rebound is driven by a combination of factors, including traders’ responses to technical patterns, President Donald Trump’s State of the Union address, sentiment-driven investor be…
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Source: https://coinedition.com/bitcoin-price-outlook-why-is-btc-surging-today/