Bitcoin Nears $98K, Restores Investor Confidence Amid Market Rebound

Bitcoin (BTC) has rallied past $97,900, marking its highest level in over two months and restoring profits to millions of investors previously in the red. According to recent data from Glassnode, the crypto market is seeing a renewed uptrend after a period of volatility and uncertainty, bringing a wave of optimism among traders.

After weeks of market corrections and mixed signals, Bitcoin’s latest surge has turned over 3 million BTC holdings from losses to gains. CoinMarketCap data shows BTC trading at $96,554.93, up 2.18% in the past 24 hours. This turnaround comes as skepticism that previously gripped the market begins to wane, especially among retail investors who had feared a deeper decline.

Glassnode’s on-chain data also indicates a sharp drop in unrealized losses for short-term holders, suggesting that many recent entrants are now back in profit. Institutional sentiment is improving as well, with U.S. spot Bitcoin ETFs recording renewed inflows following BTC’s price recovery.

While no single catalyst has been identified, analysts point to a combination of macroeconomic factors, growing institutional participation, and broader bullish sentiment driving the upswing. The positive shift in market dynamics is reviving interest and encouraging both retail and professional investors.

With Bitcoin now approaching the key psychological resistance at $100,000, momentum continues to build. The market’s rebound has not only strengthened investor morale but also reignited hopes of a new bull cycle. As BTC gains traction, the spotlight remains firmly on its ability to maintain upward momentum and challenge new all-time highs.