Bitcoin Bull Market Reset? ETF Demand Surges

Bitcoin has delivered one of its most violent recoveries in years, but has the historic short squeeze genuinely reset the bull market—or have traders become too confident, too quickly?

In today’s Crypto News Roundup, we examine K33 Research’s argument that Bitcoin’s rapid recovery of its major moving averages resembles the beginning of previous bull-market cycles. Spot Bitcoin ETF demand is continuing, funding rates have returned to neutral and billions of dollars in short positions have been cleared from the market.

However, the warning signs are becoming harder to ignore. Crypto sentiment has moved from fear to greed in less than 2 weeks, Bitcoin is approaching a major $6.4 billion options expiry, and leverage is rapidly building across XRP and Zcash.

We break down why XRP futures volume is now running at more than 5 times its spot volume, why Zcash has fallen despite the launch of its Grayscale exchange-traded fund, and how borrowed money could turn an ordinary pullback into something much more violent.

We also examine Bernstein’s latest Bitcoin forecasts, including its base case of $150,000 by the middle of 2027 and approximately $300,000 in 2029. These are Bernstein’s projections—not ours—and we explain the currency-debasement argument behind them.

Elsewhere, wealthy Bitcoin holders are reportedly moving billions of dollars into ETF shares because of kidnapping, hacking and custody concerns. Revolut is beginning the rollout of its euro-backed stablecoin, major financial institutions in South Korea and Japan are testing blockchain settlement systems, and the European Central Bank is defending the privacy protections planned for the digital euro.

The market may be stronger than it has been for months, but another vertical move would not necessarily be healthy. The next test is whether genuine ETF and spot demand can continue after the short squeeze ends—and whether XRP, Zcash and the wider altcoin market can cool down without triggering another liquidation cascade.

These notes come from the official Crypto News Today feed; they are not a transcript. Official-feed provenance does not independently verify every factual claim. No separate source links were supplied with this edition.