Bitcoin's price has surged past key resistance levels, prompting analysts to debate whether it marks a new bull run. The sudden sharp price spikes and forced short liquidations that accompanied the surge are often seen as classic signs of a bottom. However, macro risks still pose a threat to the market. The price increase has been attributed to a combination of factors, including rising adoption and improving fundamentals. Market watchers say that this could be a sign that the market has finally bottomed out, but others remain cautious. Some analysts believe that the surge is short-lived and that the market will soon correct itself.
This article is Bitcoincryptos' summary and analysis of reporting originally published by CoinDesk. Read the full original report at the link above.