Bitcoin briefly surged above $100,000 this month, reaching nearly $108,000 before a subsequent drop. Glassnode's data indicates that much of this spike was fueled by traders leveraging funds rather than organic accumulation. 📈 Speculative bets dominated the recent rally, with short-term traders driving market activity despite diminishing optimism. Institutional investors like Michael Saylor and Bitcoin ETFs continued to make significant purchases, signaling ongoing interest despite short-term trader activity. 🏦 The supply shortage on exchanges, with only 7 million BTC available, could impact prices if demand remains steady. 🔄
https://altcoin.observer/mirage-of-100000-bitcoin-rally-is-not-supported-by-chain-force/
20,980
Lunam Points