Bitcoin carved a path toward $82,000, but derivatives metrics need another push from bulls to sustain the rally.
Key takeaways:
Bitcoin (BTC) gained 7% over the past week, breaking above $81,000 for the first time in over three months. Despite the strong price performance, data suggest that Bitcoin derivatives lack optimism from investors and this raises questions on the rally’s sustainability.
Macroeconomic and several onchain metrics point to softening demand.
Bitcoin (BTC) has staged a notable 21% recovery over the thirty-day timeframe, pushing the largest cryptocurrency in...
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