Bitcoin Breakout Highlights Demand But Key Rally Factors Are Absent
Bitcoin (BTC) needs fresh spot demand to absorb the rising BTC supply across exchanges and exchange-traded funds. Recent exchange inflows and ETF outflows created nearly 34,000 BTC in local selling pressure, while derivatives data showed the latest recovery was driven mostly by short covering. Bitcoin researcher Axel Adler Jr. said BTC exchange and exchange-traded fund…