Bitcoin (BTC) recently plunged below $90,000 before quickly bouncing back above $108,500, representing a recovery linked to heightened spot demand, particularly in the U.S.
The uptick in spot demand is evidenced by a 10% rally and strong buying pressure in the market. Bitfinex analysts suggest that this surge may not be sustainable if it leads to profit-taking.
While the positive trend is noted, analysts warn that aggressive buying can lead to BTC corrections, especially as traders look to secure profits after events like President Trump’s inauguration.
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