The demand structure for $BTC has indeed been recovering these days. The strategy is still increasing positions, Coinbase Premium is also rising, and the daily net inflow of spot Bitcoin ETFs has even reached a high not seen since mid-January. Buying interest is not just driven by sentiment; allocation funds and spot demand are also returning. In the short term, it looks more like building a new oscillation range, with support below $BTC being more stable than before. $BTC

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