Bitcoin's price has experienced a notable surge, reaching a three-week high of $90K. However, according to reports, market participants remain cautious. Despite the price increase, derivatives data and spot ETF flows suggest that traders have limited confidence in sustained upward momentum. The development indicates a potential lack of conviction in the market's ability to maintain its upward trajectory, with investors seemingly hesitant to fully commit to a bullish outlook.

Bitcoin's price has experienced a notable surge, reaching a three-week high of $90K. However, according to reports, market participants remain cautious. Despite the price increase, derivatives data and spot ETF flows suggest that traders have limited confidence in sustained upward momentum. The development indicates a potential lack of conviction in the market's ability to maintain its upward trajectory, with investors seemingly hesitant to fully commit to a bullish outlook.