Ok first of all I have really given up on trying to understand bitcoin behaviour, I remember so called experts said that bitcoin will touch 100k by the end of 2021 and we all know how much accurate that prediction comes out to be, then there is El Salvador we thought it will touch sky after El Salvador made it legal tender but it crashed.
And now i thought it will go new low and now it is going up, like what is happening, why it is going up in such situation of uncertainty and war?
1. When you want to flee with your wealth, Bitcoin is easier to carry than gold.
2. When your currency value plunges badly, you may want to spend it for basically any investment you can, especially one that has a chance for not getting restricted.
3. Various traders seize the opportunity for speculation.
4. Bitcoin was going down for quite some time, it's about time for a reversal/recovery.
PS. Never take into account the short term price movements, speculators may trick you; never believe anyone's price prediction, they don't have a crystal ball.