Stifel says Bitcoin could crash to $38,000 based on a 15-year trendline. JPMorgan says $170,000. One of them is badly wrong, and here's why.

Bitcoin price climbed more than 8% today, pushing above $69,000 and marking one of its strongest daily moves during months of sell-offs.

Crypto-related stocks rallied alongside digital assets, while a positive Coinbase Premium Index and the strongest U.S. spot bitcoin ETF inflows since early February signaled a tentative return of U.S. buyers and risk appetite.

I’ve been calling the bitcoin crash since the bubble hit $100,000, when I bailed. Now we are approaching the denouement of this cycle’s bitcoin crash.

Bitcoin is buoyed today by fiscal assurances in the State of the Union address given by Trump but will it hold?

According to Goldman Sachs’ hedge fund positioning data, Strategy has climbed to the top spot among the most shorted large-cap U.S. stocks, measured by short interest as a percentage of market cap. A year ago, it wasn’t even in the top 50.

Reactions on X reflected skepticism. CoinDesk senior analyst James Van Straten called the timing “panic selling at the lows,” noting Bitdeer had just raised fresh capital. Braiins CEO Eli Nagar argued better liquidity tools exist and said selling bitcoin, “the hardest asset,” should be the last option, not the first.

Crypto rebounds sharply from Tuesday's lows, yet traders question whether the move marks a lasting turn or another range-bound bounce.