That's amazing! Bitcoin suddenly hit $74000 last night. The market instantly transformed from a bear market to a bull market with quick returns! But the question is: is this a rebound or a reversal? I said my opinion, I think the probability of reversal is not small. I thought this wave of increase was not due to shouting orders. But the money is moving. And it's several different types of money. 1. Someone is crazily buying at a low price of 60000 to 70000 US dollars The data on the chain is already very clear. In the wave of decline in February this year. More than 400000 BTC were raised. Mainly focused on: The range of 60000 to 70000 US dollars. This range has now become a thick band of chips. Simply translated into human language: Someone is taking orders on a large scale here. And many of them are long-term funds. 2. Long term holders begin to stop selling There is another change that many people haven't noticed. Over the past few months. Long term holders have been selling. But recently. Selling has significantly slowed down. Institutions and old players sold out. The selling pressure in the market naturally becomes lighter. 3. ETF funds are starting to flow in again After BTC hit a historic high in October last year. ETFs have actually been flowing out all along. Until February 20th. The situation suddenly reversed. ETFs are experiencing consecutive large net inflows. Single day: 400 million US dollars 500 million US dollars Funds of this scale come in. It's strange that prices don't rise. 4. Institutions are quietly buying spot goods There has been another signal on the chain recently. The Coinbase premium spread has risen to $61. Usually this means: American institutions are buying. There are also data findings: Approximately $790 million BTC Slowly bought through TWAP orders. TWAP is generally a method used by large institutions to quietly build warehouses. I don't want to inflate the price. 5. Stablecoins are still increasing Current total market value of stablecoins: 310 billion US dollars. Still growing. Last month: USDC +8.6% PYUSD +16% Some stablecoins even have an increase of 29% What is stablecoin? bullet. The more stablecoins there are. The more money there is available to buy coins in the market at any time. 6. The market has just undergone a 'position cleaning' An analyst said it very directly. One of the core reasons for this surge is: Position reset. In consecutive months of decline. The ETF sold approximately 100000 BTC. Futures open interest has dropped to a two-year low. The lever has been cleaned. The market has resumed building positions. This stage. Usually accompanied by a rapid rebound. 7. But there are also people who pour cold water on it BitMEX founder Arthur Hayes said today: This rebound may just be: Dead cats bounce. The reason is simple. BTC has not yet been associated with US technology stocks Truly decoupling. If SaaS and technology stocks continue to decline. Encryption may also be delayed. 8. Institutional funds are actually still coming back There is another piece of news that many people overlook. A16z is currently raising a new cryptocurrency fund. Scale: 2 billion US dollars. In a bear market. VCs usually do not raise new funds. But now they are starting to raise funds again. Explain one thing: They are ready to continue betting on this industry. Finally, to be honest. No one can confirm now: Is 74000 a new bull market. But a few things have already happened: Someone is crazily buying BTC at 60000 to 70000. Institutions are starting to rebuild their warehouses. ETF funds are flowing back in. Stablecoins are still increasing. So now the market is more like: The bottom is slowly being raised. There is only one real problem left: If the next market trend really comes. How many BTC do you still have in your hand.