Bitcoin’s floor looks firmer at $80,000, but traders still don’t trust the breakout
CoinDesk
Bitcoin has stabilized above $80,000, but market indicators suggest traders are hedging against potential volatility rather than fully committing to the rally.Summary
Bitcoin has reclaimed the $80,000 level following a recent jobs-driven dip, supported by consistent ETF demand and reduced exchange reserves. However, analysts from Enflux and Glassnode note that this recovery is heavily reliant on leveraged futures rather than pure spot buying, leaving the market sensitive to upcoming inflation data. Despite rising aggressive spot buying, high levels of hedging activity suggest that traders remain skeptical of a sustained breakout, keeping Bitcoin in a state of cautious consolidation.
(Source：CoinDesk)