Bitcoin surged above $90,000 on Monday after a period of flat price action, but once again faced resistance at the key technical level.
Some analysts attributed the rise to simultaneous buying by retail investors and big players, a development that is seen as positive after retail investor interest waned since the October crash.
Strong buying signals were reported on most major exchanges, with whale activity returning to the fore, supporting more positive short-term sentiment.
However, a different view emerged from other analysts who warned that the surge could be a dead-cat bounce. This comes as net capital flows turned negative and showed money leaving the crypto market.
Continued outflows from bitcoin spot ETFs reinforced those concerns, although the recent price surge also provided a boost to several major altcoins.
