Bitcoin surges above $110 after market recovery

Bitcoin (BTC) rose 3 percent over the past 24 hours, reaching around $110,770, following a brief market recovery after a $500 billion loss in the value of cryptocurrencies. However, BTC remains down about 4 percent for the month, according to CoinDesk.

The recovery was supported by improving global risk sentiment, rising stocks and expectations that the US Federal Reserve may ease monetary policy later in the year. The CoinDesk 20 Index rose 4.3 percent, with all participants in the green.

Analysts note that while the short-term momentum is positive, the long-term trend remains influenced by macroeconomic factors such as Fed policy, US dollar strength, Bitcoin ETF flows, and geopolitical risks. Low liquidity and uncertainty around interest rates continue to weigh on the market.

Corporate accumulation continues, with BitcoinTreasuries data showing an 8.4 percent increase in holdings over the past 30 days, reaching 4.04 million BTC. New cryptocurrency ETPs from BlackRock and 21Shares on the London Stock Exchange are expanding access for retail investors.

Analyst Linh Tran said Bitcoin appears to be in a reaccumulation phase, with sentiment stabilizing and institutional demand remaining robust.