A recent analysis by Cointelegraph suggests that spot market demand is the primary driver behind Bitcoin's (BTC) surge past the $70,000 mark. While inflows into Bitcoin exchange-traded funds (ETFs) have garnered attention, their impact on BTC's price has been limited. The analysts emphasize that sustained demand from the spot market is crucial for BTC to break through the current resistance level and achieve further upward momentum. Without sufficient buying pressure in the spot market, BTC's price could potentially face downward pressure and retrace some of its recent gains.

#BTC