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Will the recent Bitcoin rally sustain?
All of this happens as Bitcoin was trading at $78,128.46 at press time after a hike of over 23% in the past month. However, despite this price hike, the move is not being confirmed by strong buying in the actual Spot market, which makes the rally potentially fragile.
Spot CVD (Cumulative Volume Delta) remaining almost flat confirmed that sentiment, indicating that spot traders are not aggressively buying enough to explain the price increase. This can happen when leveraged traders in futures and perpetual markets are driving the move, with traders opening long positions and using leverage to push prices higher.
The concern is that leveraged rallies can reverse quickly.#GateLaunchesJapaneseStockTrading #U.S.StrikesIranBTCDips #GateIdleEarnAutoYieldUpTo3% #GateEventContractTradeSharingChallenge #AIStartupsRaise400BInSixMonths $BTC