Bitcoin posted its strongest daily gain since May as buy-side flows, a sharp adjustment in investor sentiment and a return of the Coinbase premium hint at a potential rally above $100,000.
Bitcoin (BTC) gained 5.81% on Tuesday, its biggest daily return since May 8. As the rally unfolded, a bullish engulfing pattern formed, marking the first significant structural shift on the daily chart in the fourth quarter. Traders now wonder if there is an increased chance for a sustained recovery over the coming day.
Key takeaways:
Bitcoin printed a bullish engulfing candle with its strongest daily gain since May, signaling early trend expansion.
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