Here’s Why Bitcoin Price Is Rebounding Sharply Today
Highlights
- Bitcoin price saw sharp bounce today despite investors remain cautious ahead of CPI inflation print.
- Mix of macro and technical factors including easing global yields and falling oil prices.
- Bitcoin chart patterns shows bullish continuation toward $94,000.
Bitcoin price is rebounding more than 3% today, bouncing from $81,017 to $84,074. The sharp rise comes amid a mix of macro and technical factors. Traders remain bullish amid BTC buys by Strategy and other corporate Bitcoin treasuries.
Derivatives markets are also showing massive buying across CME, Binance, and other crypto exchanges. Notably, Bitcoin futures open interest jumped almost 3% in the past few hours.
Macro-Driven Bitcoin Price Rebound
Bitcoin price shows upside move after US President Donald Trump’s comments on Russia and Ukraine ceasefire. He believes both Putin and Zelenskyy want to reach a deal to end the war in Ukraine, but “they don’t know how.”
Also, Trump does not believe China and Russia are helping Iran. “They have too much to lose, and we would know about it,” he added. As a result, oil prices fell to almost $92 per barrel on Tuesday.
— Rapid Response 47 (@RapidResponse47) October 13, 2026
“Prices are coming down and as soon as the war ends, which will be very soon with Iran, the oil will drop like a rock,” Trump said.
Bitcoin price hit $84,000 as global bond yields fell as a tech-led sell-off boosted safe-haven demand and declining oil prices eased inflation concerns. The US 10-year Treasury yield dropped to 5.18% as investors look ahead to key economic data releases this week, including the CPI inflation data for September.
In addition, the US dollar index (DXY) is falling today amid easing US Treasury yields, Japan’s PPI coming in at 6.8%, well below expectations of 7.6%, and central banks’ interventions.
Massive Short Liquidations amid Technical Chart Strength
Analysts are leaning bullish on Bitcoin price rebound, supported by lower exchange-held supply and reduced panic selling. However, prices recorded volatility as investors remained cautious ahead of key macro events this week and Fed official comments.
Bitcoin price rebounded exactly from the 50-day moving average and continued its upside momentum within the ascending channel. This combines with negative Bitcoin funding rates for the first time in 3 months, which historically led to positive price action.
Popular analyst Cheds Trading also noted a bullish engulfing pattern on the 4-hour chart. Technical indicators and high possiblity of Bitcoin price continuing upside in the ascending channel could trigger a rally to $94,000.
Coinglass data also shows continued short liquidations in Bitcoin over the last few hours. Total crypto market short liquidations over the last 4 hours were $7 million, with Bitcoin accounting for more than $3 million. Meanwhile, long liquidations continue in Ethereum, Solana, NEAR, and XRP.
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