Bitcoin briefly surged to $116,000, marking a 4.25% increase in 24 hours, but analysts warn this may be a speculative move rather than a sign of market optimism. CoinGlass reported 183,988 liquidations totaling $630 million, highlighting extreme volatility. BiyaPay analysts suggest the current price is not sustainable, with a healthy correction range between $60,000 and $70,000. They note a shift towards traditional safe-haven assets like gold and U.S. Treasuries amid high U.S. interest rates, which are limiting risk capital inflows into crypto. The demand for derivatives and downside protection is rising, potentially increasing short-term volatility. BiyaPay advises investors to enhance risk management strategies during this period.