Bitcoin Rebound Driven by Institutional Buying, Hashrate Hits Record

Bitcoin has been experiencing a quiet but notable rebound, with institutional investors taking advantage of the dip to increase their holdings. According to JPMorgan's latest report, the Bitcoin network's hashrate has reached an all-time high, indicating strong confidence from miners and large investors. This surge in network strength suggests a potential shift in momentum, even as price action remains tense.

Currently, Bitcoin's price range is between approximately $102,000 and $110,000, showing some tension in its movement. Recent data indicates that bulls are losing their grip, with prices dropping about 3.7% over the past week. The coin is nearing the support level around $98,600, while resistance is at about $114,000. With an RSI under 40, bearish tendencies are currently stronger. However, over the last month, Bitcoin has grown by nearly 3%, indicating potential for a resurgence. If bullish momentum gains, it could target the second resistance level, just over $121,000, capturing a near 20% gain from the current lower price of $102,000. For now, cautious optimism prevails.

The rebound in Bitcoin, coupled with the record-breaking hashrate growth, signals that institutions are not bearish. Despite short-term price fluctuations, the long-term fundamentals are strengthening, laying the groundwork for a broader market recovery. If Bitcoin pushes beyond key resistance levels, it could trigger a wider rally across altcoins. For now, cautious optimism prevails, but with deep-pocket investors stepping in and network health surging, Bitcoin’s next big move may be closer than it looks—and other major coins may soon follow.