Bitcoin surged to $109.7K but pro traders are skeptical about its price momentum, as several indicators show a lack of commitment. Despite approaching its all-time high, traders are wary. A recent decrease in U.S. private payrolls and eurozone monetary expansion may have contributed to the price rise, yet concerns remain amidst escalating global trade tensions, with the U.S. contemplating tariff increases. Additionally, the Bitcoin futures premium has stayed below the neutral threshold, indicating hesitancy among traders. Option markets reflect similarly neutral sentiment, with balanced risks for price movements. A discount on Tether in China suggests reduced demand for cryptocurrencies and lack of confidence in Bitcoin's recent gains, echoing wider market anxieties over ongoing trade disputes. Overall, while Bitcoin's price increases, market enthusiasm appears restrained, leading to questions about the rally's sustainability.

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