Bitcoin's latest rally tells a different story than typical leverage-fueled spikes. The real driver here? Genuine buying pressure flooding back into spot markets. Rather than traders chasing futures contracts, we're seeing actual demand resurface—a sign the rebound has more staying power. When spot volume leads the charge instead of leveraged positions pumping the price, that's when things feel more sustainable. This shift from derivative-driven action to authentic spot accumulation matters because it separates temporary noise from actual market conviction.