BTC’s $80K move is being driven by TWO different forces.

Spot ETF demand is providing real buying pressure.

But short liquidations are adding forced upside momentum — and that part can disappear quickly.

That distinction matters.

If spot demand keeps absorbing supply, the move has stronger foundations.

If ETF flows cool while leverage takes over, volatility can hit hard.

So what are you watching now: spot flows or derivatives positioning?

$ONG

$BMT

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