Bitcoin’s latest advance is one of the most widely dismissed rallies in years. Yet the very skepticism surrounding it may be the fuel that keeps it alive, according to prominent crypto commentator Ran Neuner.
In a live broadcast on Thursday, the CNBC contributor described a classic “Trump recovery” that has lifted the S&P 500 to fresh record highs and pushed Bitcoin above $74,000, even as geopolitical strains, elevated oil prices, and sticky inflation continue to weigh on sentiment.
Similar sharp, V-shaped rebounds followed earlier tariff announcements and the mid-2024 pullback, he noted, repeatedly surprising those who bet against the move.
Global equity markets are following suit. Japan’s Nikkei and South Korea’s Kospi are at or near all-time highs, with the Kospi up roughly 50 percent year-to-date.
The rally’s unpopularity stems from deep-seated doubt. Many four-year cycle analysts insist the bull market cannot restart until October and forecast a retest of $50,000 or lower. Meanwhile, Altcoin investors are frustrated, citing persistently high Bitcoin dominance, which has left tokens such as Solana trading at multi-month lows against Bitcoin.
 
Yet, the S&P 500’s nearly 10 percent gain over 10 days ranks in the 99.7th percentile of historical returns since 1950. The Fear & Greed Index has lingered at extreme lows for an extended stretch. Whale accumulation over the past 30 days has reached its highest level since 2013, with 270,000 BTC purchased.
Stablecoin supply has climbed to an all-time high of $320 billion while funding rates stay negative, conditions that have historically preceded short squeezes.
A key catalyst has been MicroStrategy’s aggressive fundraising. The company raised $6.3 billion through its “Stretch” preferred stock offering, carrying an 11.5 percent monthly dividend, with every dollar directed toward Bitcoin purchases. Neuner defended the structure as transparent and non-redeemable preferred equity, and noted that Michael Saylor’s reserves are sufficient to cover dividends for at least the next two years.
Bitcoin rose 0.88 percent in the past 24 hours to $76,179.06, slightly trailing the broader crypto market’s 0.96 percent gain. The move reflects recent institutional demand through U.S. spot Bitcoin ETFs, which took in $186.03 million on April 15, as well as a 59 percent correlation with the Dow Jones Industrial Average ETF and improved macro sentiment tied to hopes for a U.S.-Iran ceasefire.
A hold above $74,000 support keeps a retest of $75,400–$75,600 resistance probable. A break below $74,000 would expose the price to $73,000. Traders are also watching today’s SEC CLARITY Act roundtable for new regulatory signals.
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