I think investors risk-on sentiment is driven by low yield in field income and shifting it to riskier assets like stocks, crypto, commodities etc. And it seems like BTC bottomed at 3,850 and continue to rally within the downward channel. Key resistance is to break the downward channel, while support is seen at 0.236 fib or around 5,400.
This is my own personal opinion only and should not be taken as trading & investing advice. Caveat!