Bitcoin (BTC) has seen a 2.5% increase, hitting $69,400 on June 3, sparking optimism for a rally towards $70,000. This positive movement coincides with a surge in the Bitcoin futures premium, reflecting bullish sentiment. Analysts suggest the rise may be influenced by GameStop's 36% rally, rekindling anti-traditional finance sentiment and boosting memecoins like Floki, Dogwifhat, and Bonk. Comments from the Federal Reserve Bank's Neel Kashkari, ruling out imminent rate cuts, have also added to market uncertainty, driving some investors towards Bitcoin. Global geopolitical tensions, including Australia's move to reduce Chinese stakes in a rare earths miner, have also impacted Bitcoin's price. The Bitcoin futures premium and the 25% delta skew suggest cautious optimism among traders, providing a stable foundation for further price gains.