Bitcoin Surges 7.1% Above $70K as Spot and Futures Demand Turn Positive

• Bitcoin posted its largest upside daily move since October 2023, reaching $71,425 as volume and momentum surged.
• Short-term holders sent 44,300 BTC to exchanges, marking their largest profit-taking activity of 2026 after BTC crossed $67,100.
• Spot and futures demand turned positive together for the first time in months, signaling broader demand despite shallow readings.

Bitcoin posted its strongest daily gain since February, climbing 7.1% as short-term holders sent 44,300 BTC to exchanges. Analyst Darkfost said Bitcoin moved above their cost basis near $67,100. Meanwhile, CryptoQuant reported spot and futures demand turned positive together, while Glassnode measured the move as the largest upside daily move since October 2023.

Darkfost linked the rally to two U.S. developments. Treasury Secretary Bessent said long-term Treasury buybacks would proceed and double, lowering long-term yields. Later, President Trump spoke at a White House crypto meeting.

He said the U.S. was considering buying a sizeable amount of Bitcoin. Trump also urged Congress to pass the Clarity Act and expressed interest in bringing Hyperliquid to the U.S. Darkfost questioned whether the remarks reflected genuine intent.

Meanwhile, short-term holders recorded their largest profit-taking activity of 2026. They transferred 44,300 BTC to exchanges as Bitcoin moved above their cost basis.

CryptoQuant said spot and perpetual futures demand growth both moved above zero on the 30-day sum. It was the first time in months that both measures were positive together. Through April and May, futures demand stayed positive while spot demand remained negative.

Bitcoin rose from about $70,000 to $82,000 before June reversed the move. CryptoQuant noted that leverage can move prices but cannot sustain them alone. However, the latest reading remains shallow, with both measures close to zero.

Glassnode said the latest daily Bitcoin close was the largest since February. Unlike February’s rebound, this gain followed no preceding crash. Against 30-day volatility, Glassnode measured the move at 5.8 sigma.

That made it the largest upside move since October 2023. The chart shows Bitcoin breaking above $66,000, $68,000 and $70,000 before reaching $71,119.49. The latest candle reached $71,425.55, while RSI stood at 88.69.

The MACD line stood near 1,643.75 against a 1,005.81 signal line. Its positive histogram reached about 637.93 as volume expanded. The chart places $70,000 as support, with $71,425 as immediate resistance. Below $70,000, $68,000 and $66,000 to $65,000 are support areas.