Bitcoin's recent rally has been attributed to spot buying rather than speculative futures trading, according to a report by Matrixport, a cryptocurrency service provider. This shift indicates that the current upswing could have staying power in the long term. The report highlights that Bitcoin perpetual futures funding rates are hovering near zero, suggesting that the rally is driven by actual demand for the underlying asset. This is a positive sign for the sustainability of the current bull run. The continued accumulation of long positions in the Bitcoin market further supports the notion of a bullish outlook. As more investors bet on Bitcoin's ascent, the potential for further upside becomes more likely. Overall, the shift towards spot buying and the buildup of long positions are positive indicators for Bitcoin's future trajectory. However, as with any investment, due diligence and caution are always advised.

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