Bitcoin spot demand has turned positive, indicating a potential bullish reversal. Traders await a break above $110,000 for increased momentum. Apparent demand for Bitcoin has reached a four-month high, showing a positive outlook since July. Spot trading volume has surged by 23%, signaling heightened speculative activity and potential for a breakout move. The US government shutdown end, $2,000 tariff dividend promise, and Fed’s expected rate cut are prompting investors to scale back into risk assets. Bitcoin’s bullish case relies on reclaiming $110,000 as support to ignite momentum and signal a bullish reversal. Analysts emphasize the importance of defending the $110,000 level to avoid further market weakness. The double bottom pattern could drive Bitcoin toward $110,000, but a short-term retracement to fill the CME gap near $104,000 may occur.

Read more at CoinTelegraph: Bitcoin Spot Demand Spikes Signaling BTC’s ‘Potential for a Breakout Move’