Spot Flows Fuel Bitcoin Rally, Crypto Analysts Predict Return to $100,000
Bitcoin has surged 4.9% over the past 24 hours, currently valued at $95,102, according to data from CoinGecko. Analysts attribute the latest rally to increased spot buying and believe that a continued stay above the $95,000 level could propel BTC to $100,000 for the first time since mid-November. In an X post on Tuesday, market
Andrew Richard2 min read
Bitcoin has surged 4.9% over the past 24 hours, currently valued at $95,102, according to data from CoinGecko. Analysts attribute the latest rally to increased spot buying and believe that a continued stay above the $95,000 level could propel BTC to $100,000 for the first time since mid-November.
In an X post on Tuesday, market researcher Will Clemente noted that buying activity in the spot market has been escalating since the start of the month, indicating an improving sentiment in the crypto market.
As Bitcoin rose toward $95k, short traders were forced out of the market, losing a combined $269 million due to liquidation, per data from CoinGlass.
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