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Bitcoin Rally Fueled by Leveraged Traders, Not U.S. Buyers
Published 1 week, 5 days ago
Description
Bitcoins recent surge past $80,000, driven by leveraged traders in perpetual futures, may not be sustainable. The absence of strong U.S. institutional demand, indicated by a negative Coinbase Premium, and narrowing on-chain demand suggest a potential relief bounce. Bitcoins current price near $79,500, below $80,000, and the key support at $7,000 warrant close monitoring.
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