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Benzinga
Benzinga
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Benzinga Contributor

Higher Interest Rate Concerns Put Dampener On Bitcoin

Marcus Sotiriou United Kingdom United States

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock

Bitcoin (CRYPTO: BTC) remains hesitant, as data shows that this recent rally was driven mostly by futures, whilst spot has been selling. We know this because the aggregated CVD (Cumulative Volume Data) for spot has been stagnant whilst the CVD for futures has increased. This suggests that this price rise was driven by speculation or hedging rather than genuine demand.

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