Is Bitcoin's rally real or just a short squeeze? Analysts weigh in

Bitcoin is rallying despite a macro backdrop that should, on paper, be working against it. BTC has jumped from roughly $76,000 last week to around $86,000 this week, extending a sharp rebound even as the Fed raised interest rates, oil remained elevated, and the US-Iran conflict continued to cloud the outlook. Yet the move is not happening in a vacuum. US stocks have also recovered, oil has pulled back below $100, and Treasury yields have eased from recent highs as markets price in a better supply outlook and tentative diplomatic signals around Iran. Still, Bitcoin's scale of the rebound stands out.