I am switching over to the COINBASE chart because I believe the on coinbase is a better indicator of big money coming in. (Wall Street wales)
As you can see on this chart. The spike reminds me of what happened before bitcoins last historic run. These type of huge spikes can turn any market around, let alone a market which has huge hype around it. Right now, the big media outlets are focusing on the huge 'stock market bounce back' and bitcoin is just a side note. Once the stock market normalizes and more focus is put on bitcoin again. The retail investors will start to hop back on this train which will propel bitcoin to new highs... thats right.. higher than 20k... much higher.
BUT... before you lose your butts and put your life-savings into bitcoin . The wales are still in charge here.. they can turn this market upside down on a dime if they want to shake out the rest of the retail investors who think they made a great buy under 10k on the dip. I wouldn't be surprised to see one last shake out before we see bitcoin take off like a rocket to the moon again.
And remember. This is not finical advice. You should never risk money in that you cannot afford to lose.