# BTC Market Analysis: Recent Surge to $115,987
## Latest Movement
BTC has shown remarkable strength in the last 24 hours, surging from around $111,400 to currently trading at $115,987. This represents a significant 4% increase, with a notable spike occurring during the 05:00 hour when price jumped from $113,480 to $116,482.
## Key Drivers
- **ETF Sentiment Shift**: Despite Tuesday's net outflow of $342 million from spot Bitcoin ETFs, the market has shown resilience and recovered quickly, suggesting strong underlying demand.
- **Inverse Kimchi Premium**: For the first time since December, BTC is trading at a discount (-0.69%) on Korean exchanges compared to global markets. This unusual pattern often precedes significant market movements.
- **Macroeconomic Factors**: Eurozone money supply expansion and weakness in the US labor market continue to drive investors toward Bitcoin as a hedge.
## Market Mood
Professional traders remain cautious despite the price surge. The USDT discount reaching 1% in China (a new low since mid-May) suggests institutional investors aren't fully convinced about the sustainability of this rally. This creates an interesting tension in the market - retail momentum pushing prices up while smart money remains hesitant.
The next key psychological level to watch is whether BTC can stabilize above $116,000 and potentially challenge new all-time highs in the coming days.
The information above is searched and summarized by AI, and does not constitute investment advice.