Bitcoin surged about 11% in the last 24h, rising from $64,413.95 to $71,650.06 with a new intraday high of $71,826.26 and a low of $68,902.22, while open interest and volume both rose. The move is supported by rising funding rates and a higher premium index, suggesting momentum may be driven by derivatives, with the DeFi Season sector leading gains.

Based on what is currently happening in the market, the sentiment for cryptocurencies is bullish.