According to CoinMeta, after predicting that Bitcoin would rebound to $58,000, Peter Brandt has now shifted to a bullish stance. Bitcoin rebounded from $58,000 to near $80,000, with demand and short covering driving this trend. On August 21st, Bitcoin reached around $79,500, an increase of nearly 27% from $57,717 in July. This rebound for Bitcoin was fueled by short liquidation, as many short traders were forced to close their positions. American funds attracted approximately $1.92 billion in capital inflows during this rebound, and recently, ETF inflows have accelerated, helping Bitcoin's price rise above $69,000. The next important testing range for Bitcoin is between $79,500 and $80,000; if it can break through this range, it will further solidify the bullish trend.