Bitcoin has seen a significant price rebound, surging over 25% since its April low of just under $74,000 to trade above $96,500 as of early May. This rally follows a backdrop of reduced market volatility, decreasing Bitcoin supply on exchanges, and increasing accumulation by investors. Robert Breedlove, Bitcoin maximalist and podcast creator, believes this increase is indicative of a broader bullish trend driven by miner data. 2016 data shows the average miner break-even cost often coincides with major market bottoms, suggesting that Bitcoin may be close to its next growth spurt. Breedlove’s analysis points to a floor in Bitcoin prices being established based on current miner economics and market break-even lines. He also highlights long-term holders accumulating additional BTC, fueling supply shock and potential price pump. On-chain data shows whale purchases of around $4 billion worth of Bitcoin within the last two weeks of April, further corroborated by increased inflows into spot BTC ETFs. This reduction in available BTC supply on exchanges indicates less sellers at key price levels.