Bitcoin posted its largest upside daily move since October 2023, climbing to $71,425 as volume and momentum expanded.

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, pointing to broader demand despite readings that remained shallow.

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

Bitcoin Clears $70,000 as Profit Taking Rises

Darkfost linked the rally to two U.S. developments. Treasury Secretary Bessent said long-term Treasury buybacks would proceed and double, which would lower 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.

At the same time, short-term holders logged their largest profit-taking activity of 2026. They moved 44,300 BTC to exchanges as Bitcoin traded above their cost basis, a sign that the move attracted both stronger interest and active supply from recent buyers.

Spot and Futures Demand Turn Positive

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 at the same time. 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. Even so, the latest reading remains shallow, with both measures close to zero, so the market has yet to show a deep and durable buildup in demand.

Bitcoin Posts Its Largest Daily Move

Glassnode said the latest daily Bitcoin close was the largest since February. Unlike February’s rebound, this gain did not follow a preceding crash. Measured against 30-day volatility, Glassnode put 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 was near 1,643.75 versus a 1,005.81 signal line. The 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.

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