Glassnode reports that the recent push toward $96,000 was primarily driven by leverage. This suggests that traders are using borrowed funds to amplify their positions, fueling the price movement.
However, CryptoQuant offers a more cautious perspective. The analytics firm warns that demand remains too weak to confirm a definitive trend reversal. Without stronger buying pressure, the sustainability of the upward movement is uncertain.
Together, these insights highlight the current market dynamics, emphasizing both the factors propelling the price higher and the risks that could impede a sustained recovery.
https://www.coindesk.com/markets/2026/01/19/bitcoin-slides-below-usd93-000-as-usd680-million-longs-are-liquidated-asia-morning-briefing
