Core Insights - Bitcoin has recovered above $112,000, showing a 2.5% increase in the past 24 hours, largely reversing losses from the previous Thursday, with total cryptocurrency market capitalization approaching $4 trillion [1] - The rise in Bitcoin's price is attributed to macroeconomic relief, a softer U.S. dollar, steadier rate expectations, and renewed accumulation from larger players [2] - The broader crypto market experienced losses last week due to quarter-end rebalancing, with significant declines in open interest for Bitcoin futures and options [3] Market Dynamics - U.S. spot Bitcoin exchange-traded funds (ETFs) experienced net outflows last week, which were interpreted as a sign of buyer strength rather than weakness [4] - Optimism is returning to the market, evidenced by an increase in open interest for Bitcoin's perpetual contracts from $42.8 billion to $43.6 billion, along with positive funding rates [5] Future Outlook - Predictions indicate a 57% chance that Bitcoin will dip to $105,000 rather than rise to $125,000, reflecting a broadly bearish sentiment following last week's price slump [6] - Despite near-term uncertainties, the market remains bullish, with Bitcoin historically showing a median return of 52% in the fourth quarter, supported by the upcoming halving narrative [7]