Bitcoin Shows Signs of Recovery After FTX Collapse, But Macroeconomic Uncertainty Remains

Bitcoin price and futures data show signs of recovery after FTX collapse, but remain far below 2021 highs.

U.S. debt issuance and interest rate hikes spark institutional interest in Bitcoin as an inflation hedge.

Bitcoin futures premium and GBTC discount narrowing reflect improving sentiment, but exchange risks persist post-FTX.

Approval of a Bitcoin spot ETF could unlock GBTC holdings, triggering sell pressure on Bitcoin price.

Current positive indicators likely reflect a return to normal rather than excessive optimism given macroeconomic uncertainty.