The Bitcoin price rally is once again making headlines as BTC surpasses $94,000, generating excitement in cryptocurrency markets. Traders are keeping a close eye, with the $95K level acting as the next big test for bullish momentum. However, beneath the surface, the rally may not be as solid as it appears. Despite recent gains, analysts warn that the increase is primarily driven by derivatives. ETF flows instead of organic demand. As Bitcoin's price dominates the charts, the lack of on-chain activity raises serious questions about sustainability in the coming weeks.
Bitcoin Price Rally Driven by Derivatives, Not by Demand.
The BTC price rally has reclaimed $90,000 with strong momentum, but analysts warn that it is being driven by speculative instruments rather than real user activity. A leading voice in cryptocurrency analysis, Maartunn, revealed that the BTC network shows limited signs of new demand, referring to it as a 'ghost town.' While ETF flows and increasing open interest paint a bullish facade, the Bitcoin uptrend lacks the organic user base needed for long-term support; without an increase in on-chain engagement, even strong Bitcoin price support levels may be vulnerable to reversals. Investors should remain cautious as volatility returns.
BTC Price Rally Faces Reality Check Amid Weak On-Chain Activity
The BTC price rally is now pressing against the $95,000 resistance, a key level that could define the short-term trend. The price support for Bitcoin near $90K has held firm, allowing bulls to regain confidence and aim for new highs. However, the on-chain metrics tell a different story. The data shows limited activity in wallets and fewer new participants entering the network. This divergence between price and fundamentals raises a vital question: Can the Bitcoin rally sustain itself without real demand?
The BTC uptrend faces critical resistance. A breakout above $95K could trigger a push towards $100K, but without real momentum on-chain, the sustainability of this move is questionable. The Bitcoin price rally needs more than just institutional leverage; it requires a steady growth of users. Until that happens, the BTC price support at $90K remains the line between progress and correction.
BTC Consolidates: Traders Prepare for Next Big Move
BTC price watchers are closely monitoring BTC as it consolidates around $93K. While sentiment remains positive, the basis of the rally is unstable. The Bitcoin uptrend depends on broader macroeconomic stability and consistent demand. With rising global tensions and declining on-chain metrics, Bitcoin's price could face strong headwinds. Traders should keep a close eye on Bitcoin's price support at $90K. A failure to maintain that level could result in a deeper correction, undermining bullish hopes. The question remains: Can the Bitcoin rally sustain itself without real demand? The coming days could provide a crucial answer.
What's Next: Breakout or Fall Ahead?
The Bitcoin price rally is approaching a decision point as it nears the $95K resistance. Bulls are optimistic, but the market needs more than just enthusiasm to sustain this move. All eyes are on whether BTC can break through this level or pull back to test BTC price support. If the BTC price rally is to continue, greater network participation and cash demand must arise soon. Until then, cautious optimism prevails, with traders carefully navigating this fragile BTC uptrend.
BTC publication reaches around $94,000 – Can the BTC momentum last without on-chain demand? 🤔