Bitcoin's recent rally isn't solely driven by sentiment, but also reflects a positive news flow that may need fresh news to sustain momentum.
A break above $94k could lead to a surge towards the $100k mark, which is likely to attract more buyers into the market.
Despite positive sentiment, a break below $90k suggests caution, indicating a potential shift in momentum that could result in significant drawdowns.
Current demand remains robust even during downtrends, with daily inflows into BTC ETFs reaching a record $484m, supporting a more optimistic outlook.
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