What to know:
- Spot cumulative volume delta reveals buyers storming in, indicating spot demand of over $200 million in the past hour.
- Futures open interest has taken a nosedive during the day, putting more emphasis on spot demand, as bitcoin breaks $91,000.
Bitcoin (BTC) has skyrocketed 🚀 7% in the past hour, soaring past $92,000 after Donald Trump announced a crypto strategic reserve. The price is now up 15% from recent lows of $78,000. 🤑
Data suggests this rally is driven by spot demand rather than speculation, signaling a healthy, organic move. Spot Cumulative Volume Delta (CVD) shows buyers as the aggressors, with over $200 million in spot inflows in the past hour. Meanwhile, futures open interest has declined, reinforcing that this surge is fueled by real buying rather than leveraged speculation.
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2025-03-02 20:50