Bitcoin Holds Above $110000 Amid Increased Exchange Inflows and Rising Open Interest Suggesting Potential Market Consolidation
Main Idea
Bitcoin remains stable above $110,000 despite significant exchange inflows and activity from old wallets, with neutral funding rates and rising Open Interest indicating a balanced market.
Key Points
1. Bitcoin's price holds above $110,000 despite 40,000 BTC moving to exchanges and activity from decade-old wallets.
2. Neutral funding rates and rising Bybit Open Interest suggest a balanced market with no clear trend reversal.
3. Experts note that such market conditions often precede sharp directional moves.
4. Profit-taking continues, with both bulls and bears closely watching for the next major market move.
Description
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