Bitcoin Futures Show Rising Long-Side Pressure Amid Open Interest Increase, Suggesting Possible Bullish Momentum
2025-07-07 19:37:09
Main Idea
Bitcoin futures open interest has increased by 7% over the last 30 days, signaling rising bullish momentum, though a breakout confirmation would require further growth in open interest and trading volumes.
Key Points
1. Bitcoin futures open interest (OI) has risen by 7% in the last 30 days, indicating growing bullish sentiment.
2. Market analyst Axel Adler Jr. notes that a breakout confirmation would ideally need OI to surpass a 10% increase alongside expanding trading volumes.
3. Net long exposure has turned positive, reaching approximately $27.4 million, reflecting sustained bullish positioning.
4. Technical analysis suggests Bitcoin may dip to $107,300 before resuming its upward trend, with key support at $108,000 and resistance at $109,500.
5. A decisive break above $109,500 could invalidate the double top formation and pave the way for a rally towards $112,000.
Description
Bitcoin futures are exhibiting a notable increase in long-side buy pressure, as open interest surges by 7% over the past month, signaling a potential bullish momentum shift. The Bitcoin Futures
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