Bitcoin (BTC) is roaring back from a sharp market sell-off, adding roughly $100 billion to its market cap within just seven hours as renewed demand pushed the flagship cryptocurrency toward the $105,000 mark.
By press time, Bitcoin’s market capitalization had risen to $2.07 trillion at 18:30 UTC, up from $1.97 trillion at 01:30 UTC. The asset was trading around $104,300, gaining 3.44% over the past 24 hours.
The rebound follows a volatile stretch triggered by heavy ETF outflows, macroeconomic concerns, and panic selling in the crypto market.
Earlier in the week, investors withdrew nearly $1.8 billion from Bitcoin and crypto ETFs, with major players like BlackRock offloading more than $379 million across its Bitcoin and Ethereum products over two days.
The pullback intensified after Federal Reserve Chair Jerome Powell signaled that interest rates may remain elevated longer than anticipated, boosting the U.S. dollar and weighing on risk assets.
Markets were initially spooked in October when President Donald Trump announced sweeping 100% tariffs and export controls on China starting November 1, 2025, triggering a 12% Bitcoin slide and plunges of up to 40% in other major crypto assets.
The correction was exacerbated by extreme leverage, with around 300,000 traders liquidated daily on average, including a $20 billion liquidation wave on October 10 that amplified the slump.
Despite the turmoil, institutional buyers are emerging. For example, Michael Saylor’s firm, Strategy, acquired 397 BTC at an average of $114,771, signaling long-term conviction even as the asset trades below its purchase price.
Market analysts note the latest surge is being driven not by retail frenzy, but by quieter capital inflows as fear begins to fade.
They suggest the rally could continue as long as FOMO remains contained and retail participation stays muted, a dynamic that has historically favored Bitcoin’s upside momentum.
