Bitcoin Surges 10% Since April Driven By Real Demand

Bitfinex Alpha, a prominent market analysis platform, has released a report highlighting the recent price increase of Bitcoin. The report notes that since late April, when Bitcoin re-established itself above the $92,000 range low point, the cryptocurrency has shown strong resilience and structural strength, with a steady price increase. This uptrend is primarily driven by the spot market, which has seen a quick surge after a brief and distinct consolidation phase. This trend suggests that the current market is in a healthy phase of chip accumulation, supported by strong real demand rather than speculative overheating.

The spot cumulative volume delta (CVD) of major trading platforms remains positive, indicating that the market is led by genuine buyers rather than leveraged speculators. This is a significant indicator of the market's health, as it shows that the demand for Bitcoin is driven by real-world use cases and investment rather than short-term speculation.

In the derivatives market, the position performance is more reactive. The open interest of contracts shows market transition, accompanied by unwinding of short positions and resets triggered by liquidations. This cleansing process helps establish a healthier foundation, allowing speculative bubbles to dissipate. The current upward momentum is driven by genuine fund flows, providing a more solid support for the price increase.

While there is still a possibility of a short-term pullback, the overall trend remains positive. The report suggests that the market is in a healthy phase, with strong real demand driving the price increase. This is a positive sign for the long-term prospects of Bitcoin, as it indicates that the market is maturing and becoming more stable.