Bitcoin (BTC) has jumped 7% in the last hour, surpassing $92,000 following Donald Trump’s announcement of a strategic reserve for cryptocurrency. The value has increased 15% from its recent lows of $78,000.
Data suggests that this surge is primarily driven by spot demand rather than speculative trading, indicating a robust and organic increase. The Spot Cumulative Volume Delta (CVD) reveals that buyers are taking charge, with more than $200 million in spot inflows within the past hour. Concurrently, the decline in futures open interest supports the notion that this rally is powered by genuine purchasing activity, instead of leveraged bets.
Read more: Bitcoin Jumps Above $91K After Trump’s U.S. Crypto Reserve News Brings Bulls Back
