Bitcoin, the world's largest cryptocurrency, has demonstrated remarkable strength in recent days, surging by 2% in the last 24 hours to reclaim the $62,500 level. This upward momentum is a testament to the asset's ability to thrive despite challenges, including the recent outflows from US spot Bitcoin exchange-traded funds (ETFs). The ETFs experienced a net outflow of $100 million over four days, yet Bitcoin's price has remained resilient.

Several factors have contributed to the improved sentiment toward cryptocurrencies, including China's announcement of issuing long-term bonds worth $138 million to boost its economy. This move has reaffirmed that governments are acknowledging the increasing risks of recession and are willing to take measures to mitigate them. The market now anticipates further liquidity injections from China's central bank, possibly including interest rate cuts.

In the United States, the Federal Reserve's (Fed) recent actions have also influenced Bitcoin's price. The Fed's decision to increase the US monetary supply in March for the first time in two years has led to a rise in inflation, making scarce assets like Bitcoin more attractive to investors. The Fed's strategy to keep interest rates elevated for an extended period is intended to delay inflationary pressures, but it may also encourage more borrowing and spending on scarce assets to hedge against inflation.

The return of social media influencer "Roaring Kitty" has also had an unexpected impact on Bitcoin's value. The influencer, who played a pivotal role in the GameStop stock rally in 2021, has been inactive for nearly three years and their return has sparked hope among the Bitcoin community for a positive shift in sentiment toward digital assets.

Overall, Bitcoin's price is showing strength as investors anticipate the return of money printing and central bank stimulus. The cryptocurrency's ability to thrive despite challenges and its attractiveness as a scarce asset make it an increasingly popular choice for investors seeking to hedge against inflation and economic uncertainty.