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IREN staged a powerful recovery following its sharp pullback. The selling wave is cooling down noticeably, and fresh buying interest is re-entering the market. What we're seeing looks more like accumulation at a base level than just another bull trap bounce.
The real trigger here? Bitcoin's stability matters. When BTC holds firm, mining-focused tokens like IREN tend to catch momentum quickly. Watch how these two move together—it's a reliable tell for what miners are pricing in.