Positive indicators behind Bitcoin's rise to $85,000
Bitcoin continues to record notable fluctuations amid complex economic and geopolitical conditions, which have already affected various financial markets, including the cryptocurrency market.
Despite the tensions arising from the trade war initiated by former U.S. President Donald Trump, which continues to cast a shadow over the global scene, a temporary easing may provide some relative stability in the near term.
Currently, the focus is on technical indicators and investor behavior, away from macroeconomic factors.
Ali Martinez, a specialist analyst in the cryptocurrency market, pointed out that there is increasing interest from Binance platform traders in purchasing Bitcoin, with a buy-to-sell ratio of 1.8, reflecting a bullish tendency among individual investors and serving as a signal for potential strong intervention by bulls.
At the same time, global platform futures data showed that more than 56% of traders expect a price drop, indicating that the majority have opened short positions.
However, historical data suggests that Bitcoin's movements often contradict the majority's expectations, especially in derivatives markets.
