Bitcoin price bounced 4% as data indicated an ‘89% chance’ that the stock market bottom is in. On March 11, Bitcoin (BTC) surged above $81,000 while US stock futures attempted to recover from a significant downturn. Data from Cointelegraph Markets Pro and TradingView revealed a nearly 4% increase in daily BTC price. The previous day witnessed new four-month lows in the Wall Street trading session as fears of a recession drove investors away from risk assets. The S&P 500 and Nasdaq Composite Index closed down 2.7% and 4%, respectively. Nasdaq 100 futures also showed a slight recovery from their lowest levels since September 2024. The Kobeissi Letter suggested that the market had entered an unsustainable downtrend, questioning the possibility of a massive short squeeze due to extreme fear sentiment among risk-asset investors. Meanwhile, analysis pointed towards a rough time ahead for Bitcoin despite the short-term rebound. Traders observed bullish signals on short timeframes, indicating a potential price increase in the near future. However, some analysts remained skeptical about a sustained recovery, with predictions that BTC/USD might not reach all-time highs. The overall market sentiment was cautious, with concerns about a possible recession affecting all risk-off assets, including cryptocurrencies. This article provides insights into recent market movements and does not offer investment advice.