NEWSLETTER
The beginning of this week has turned out to be optimistic for bitcoin After several weeks of robust volatility, which limited its price below the level of $ 90,000. Although the price of btc has briefly won upward movements, there is the potential of a setback, since its open interest shows a significant weakness.
A strong drop in bitcoin's open interest
bitcoin market dynamics It could be making a drastic change since several key metrics show a negative trend. The reduced yield of these metrics together with the recent price fluctuations increases the risk of btc being witnessing a greater decrease to the key support levels.
As prices see a sudden, alphractal, an advanced investment and investment platform in the chain, has <a target="_blank" href="https://x.com/Alphractal/status/1906919324612469119″ target=”_blank” rel=”noopener nofollow”>reported The open interest of that bitcoin (OI) has witnessed a strong decrease. btc's open interest decline indicates a change in market feeling as investors remove their positions against continuous volatility.
In addition, this decrease in open interestwhich generally serves as a sign of speculative activity, it is likely to lead to short -term price fluctuations since the leverage is being reduced. With the decrease in metric, determine the next btc price becomes difficult, which makes investors adopt strategic approaches.
The data of the platform in the chain shows that the open interest fell at more than $ 7.4 billion in the last 7 days. This fall was recorded among all cryptographic exchanges, except the Bitfinex commercial platform based in Hong Kong, which experienced a slight increase.
Also outstanding alfractal the massive liquidation of the leverage positionstriggering Monday's volatility. If this trend continues, confidence among derivative merchants would fall, influencing btc's short -term prices.
Although bitcoin's open interest has decreased sharply, the aggregate financing rate is still in positive territory despite these liquidations. Such developments suggest that long positions continue to dominate at the current price level.
btc's long -term holders are adding to their holdings
In the midst of the fall in the open interest of btc, long -term investors show confidence in the bad bad, such as <a target="_blank" href="https://x.com/Darkfost_Coc/status/1906445377932501046″ target=”_blank” rel=”noopener nofollow”>reported By Darkfost, a technical and chain expert. In the last 30 days, long -term holders have bought more than 159,000 btc, which reflects a great interest in the asset.
According to the expert, these long -term headlines bitcoin have been accumulating despite the recent volatility, which is a sign of market growth. Although this is a positive sign, Darkfost declared that he does not always indicate that the background is inside.
This is because these periods of accumulation It can last several months, similar to market phases. Meanwhile, market uncertainty still persists, caused by the deteriorated macroeconomic climate, as well as political issues such as the initiatives of the president of the United States, Donald Trump.
At the time of writing btc It was quoted at $ 85,107, indicating an increase of more than 3% in the last 24 hours. bitcoin's commercial volume has decreased by more than 1%, which suggests a renewed bearish feeling.
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