Spot CVD shows buyers as the aggressors, indicating spot demand as open interest stays flat.
Updated Mar 2, 2025, 6:57 p.m. UTCPublished Mar 2, 2025, 5:36 p.m. UTC
What to know:
- Spot cumulative volume delta shows buyers stepping in, indicating spot demand of over $200 million in the past hour.
- Futures open interest has declined during the day, putting more emphasis on spot demand, as bitcoin breaks $91,000.
Bitcoin (BTC) has surged 7% in the past hour, crossing $92,000 after Donald Trump announced that the U.S. will move forward with establishing a crypto strategic reserve. The price is now up 15% from recent lows of $78,000.
Data indicates this rally is driven by spot demand rather than speculation, signaling a healthy, organic move. Spot Cumulative Volume Delta (CVD) shows buyers as the aggressors, with over $200 million in spot inflows in the past hour. Meanwhile, futures open interest has declined, reinforcing that this surge is fueled by real buying rather than leveraged speculation.
Read more: Bitcoin Jumps Above $91K After Trump’s U.S. Crypto Reserve News Brings Bulls Back
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
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James Van Straten