Bitcoin (BTC) has surged 7% in the past hour, crossing $92,000 after Donald Trump announced that the U.S. will move forward with establishing a crypto strategic reserve. The price is now up 15% from recent lows of $78,000.

Data indicates this rally is driven by spot demand rather than speculation, signaling a healthy, organic move. Spot Cumulative Volume Delta (CVD) shows buyers as the aggressors, with over $200 million in spot inflows in the past hour. Meanwhile, futures open interest has declined, reinforcing that this surge is fueled by real buying rather than leveraged speculation.

Read more: Bitcoin Jumps Above $91K After Trump’s U.S. Crypto Reserve News Brings Bulls Back