Bitcoin surged to a record high above $111,000 earlier this week, showing strong recovery from a low of $75,000 in April.
Renewed appetite for risk among investors is driving the rally, with analysts predicting further price increases for the cryptocurrency.
Analysis of Spot Taker Cumulative Volume Delta suggests a shift to the 'green' zone, indicating increased taker buy orders over sellers, supporting the potential for price appreciation.
Institutional demand, regulatory developments, and strategic positioning through call contracts indicate positive momentum for Bitcoin, hinting at possible further gains.