Key Drivers Supporting the Bullish Case
(Primary market drivers for today)

1. Easing geopolitical tensions + plummeting oil prices; subsiding inflation fears and marginal macroeconomic easing
The factors that previously weighed most heavily on the market—specifically energy-driven inflation and flight-to-safety selling—have completely reversed. A recovery in risk appetite is the most direct driver of today's rally, boosting the willingness of short-term capital to actively buy in.

2. Oversold conditions + short covering + ETF inflows; a confluence of three buying forces
Following a sustained pullback, technical indicators showed deep oversold conditions. This coincided with short covering and institutional "buy-the-dip" activity via ETFs—a triple-pronged influx of capital providing strong support at the lows and establishing a solid floor in the $62,400–$63,000 range.

3. Declining US Treasury yields; valuation recovery for non-yielding assets
A slight drop in interest rates has reduced the opportunity cost of holding Bitcoin and marginally improved its value proposition relative to USD-denominated investments, attracting existing capital to position for a short-term rebound.