Bitcoin demand has turned positive in both spot and perpetual futures markets for the first time since October 2025, with the cryptocurrency's price rebounding above $70,000 and reaching an 11-week high above $74,000, according to livemint.com. This surge follows the US Treasury Department's announcement to double the level of government debt buybacks, boosting market confidence.
CryptoQuant founder Ki Young Ju highlighted the positive shift in Bitcoin demand on Thursday, marking a significant change from the previous bearish trend. The price rally reflects renewed investor interest and optimism in the cryptocurrency market, driven by macroeconomic factors such as increased government debt buybacks and improved market sentiment, as reported by livemint.com.
The rebound in Bitcoin's price and demand is notable in the context of its previous bull cycle peak in late 2025. This development underscores growing institutional and retail investor appetite, positioning Bitcoin alongside other favored cryptocurrencies in India, including Dogecoin, as per recent studies cited by livemint.com. The price movement also aligns with broader trends in global cryptocurrency adoption and regulatory shifts.
Bitcoin's price crossing the $74,000 mark represents a critical technical milestone, with the next key resistance levels and market reactions to be closely monitored. The US Treasury's debt buyback program, which was doubled recently, is expected to continue influencing market liquidity and investor behavior, according to livemint.com.