Help me understand the recent market turnaround

I am sitting here trying to understand and rationalize the market rebound and I have come to the conclusion that I have no idea why the market is trending back upwards. Was there something in particular that can be attributed to the turnaround? Just not sure where all the current resilience and market confidence is coming from.

I have been hesitant ever since it was signaled that there would be an announcement from the White House on how they wanted to “enforce rules around crypto as a matter of national security”. I’m sure this announcement will be something close to what India has done with their 30% but there is no way to know.