Bitcoin (BTC) has managed to climb back well above the $90,000 level as risk appetite returned to the crypto market. New data now suggest that the rally is being driven primarily by spot demand rather than aggressive leverage.
Experts say that this is a structurally healthy dynamic.
BTC Enters “Moderate Expansion”
According to a report by crypto analyst Axel Adler Jr., Bitcoin has transitioned into what Adler describes as a “moderate expansion” phase following a period of heavy deleveraging in December. This is reflected in the composite derivatives pressure index, which has moved back into positive territory after spending much of last month near or below zero.
The index, which aggregates metrics such as open interest momentum, price momentum, divergence, and acceleration using a 90-day Z-score, currently points to an improving sentiment without reaching historically overheated levels. In fact, readings remain well below the +1.5 threshold typically associated with excessive o
We współpracy z: https://cryptopotato.com/why-bitcoins-recent-recovery-is-being-called-structurally-healthy/
