Spot flows drive Bitcoin surge as analysts tip $100K run next

“Retail FOMO” may ramp up in the coming days if Bitcoin returns to $100,000, according to crypto sentiment platform Santiment.

Bitcoin’s price could be heading for the psychological $100,000 level after breaking above $95,000 on Tuesday, with analysts attributing the recent rally to a surge in spot buying. 

“Seems like this rally on Bitcoin is led by spot buying,” crypto analyst Will Clemente said in an X post on Tuesday. Over the past 24 hours, Bitcoin (BTC) has rallied 4.65%, trading at $95,190 at the time of publication, according to CoinMarketCap. 

Traders shorting the asset were caught offside, with $269.21 million in Bitcoin short positions liquidated, according to CoinGlass data.

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