Organic growth from spot traders opens up key resistance levels closer to $60,000 for BTC/USD, analysts argue.
Bitcoin (BTC) is riding high on the back of a "very low and healthy" indicator, according to one market analyst, which could propel it to a key resistance level at $58,000.
In a tweet on April 27, analyst Lex Moskovski noted that futures funding rates are suggesting this week's BTC price run has been completely organic.
"Low and healthy" funding rates buoy bulls
Funding rates are a popular metric for measuring the health of BTC price movements.