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JUST IN: This Bitcoin surge could be a bull trap.
Willy Woo
According to the trader and market analyst, the nature of current Bitcoin buyers suggests fragility.
Woo doesn't deny the local strength of Bitcoin's price, but believes it wouldn't be sustainable in the long run.
The current surge is being driven by short-term traders and the futures market.
Optimism is starting to take hold among Bitcoin (BTC) and cryptocurrency investors following the recent price recovery.