Bitcoin needs stronger spot demand after 42.5% Q3 rally, Bitfinex says
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Bitcoin’s 42.5% third-quarter rally has left the market needing stronger spot demand to sustain further gains, according to Bitfinex. The exchange’s analysis indicates that recent momentum may have been driven more by derivatives activity and positioning than by broad-based direct buying. Without renewed spot-market participation, Bitcoin could face consolidation or increased vulnerability to pullbacks despite the strong quarterly performance.
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