$BTC Bitcoin surged while bulls aimed for USD 100K, bears moved to cover short positions
Bitcoin bears risk suffering significant losses as increasing inflows into spot BTC ETFs highlight the return of demand from institutional investors.
Bitcoin surged while bulls aimed for USD 100K, bears moved to cover short positions
Market Analysis
Key takeaways:
*Bitcoin's bearish traders were caught off guard by the surge of BTC above USD 90,000.
*Spot volumes are driving the price surge of Bitcoin.
*Bearish derivative positions continue to run the risk of liquidation.
Bitcoin
82.224 €
remained above the USD 93,000 mark on April 24, suggesting a potential conclusion to the 52-day bear market that bottomed out at USD 74,400. Although Bitcoin is starting to show signs of decoupling from the stock market, professional traders have not altered their strategies, as indicated by futures market data and BTC margin levels.
