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Bitcoin Tops $79K as Analysts Warn of Sustained Spot Demand Requirement

Guavy AI Editorial Team
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BTC
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Bitcoin has broken through $80,000 after a nearly 24% surge in one week. The price reached a three-month high near $79,550.

The rally was fueled by U.S. spot ETF inflows and forced short covering. Analysts point out that continued spot demand is necessary for Bitcoin to hold above $80,000.

Nicolai Søndergaard from Nansen said the market has probably established an important local bottom but needs more evidence from U.S. spot markets before treating the rally as a confirmed cycle turn.

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