Good morning/day, everyone.

It has been a while since we have woken up to a green morning as it is today.

A nice change in an ever-larger sea of red days.

So, what's up? Here is a quick summary.

The most valuable cryptocurrency, Bitcoin (BTC), maintained steady at $19,800 on Friday, up 5.7% for the day and 15.7% for the week, its highest weekly performance since March!

Even the volatility of bitcoin options indicates that demand for bull call options is higher than ever, which is consistent with the rally.

What is the reason for the pump?

If there was just one reason, it would be easy. But there is not just one. Instead of looking for one, we should just enjoy this moment.

Is it a bull-trap?

A bull trap is a pattern in the financial markets in which investors are led to believe that the price of an asset, such as a stock or cryptocurrency, will continue to rise, but then falls shortly after, causing investors who bought at the high to incur losses.

So, is it?

Probably. Nothing is indicating this is the end of the bear market. But might be. My point is – don’t go all in.

How to recognize a bull trap?

Impossible.

But if it is a bear market, 99% of sudden price increases are bull traps. After all, the lack of fundamental support (with that I mean terrible macroeconomics nowadays) for the asset's price, means that the price increase is not based on actual market conditions and financial data.