Bitcoin Open Interest Turns Positive Again – Still Far From The Leverage Frenzy Of 2024
Main Idea
Bitcoin is approaching a critical breakout point near its all-time high, with open interest turning positive, signaling potential for a new expansive phase in the market.
Key Points
1. Bitcoin's open interest (OI) has shifted from -9% to +5% over the past 30 days, indicating reduced leverage and cautious optimism.
2. BTC is testing the $109,300 resistance level, with a breakout potentially leading to a retest of the $112,000 all-time high.
3. The 100 and 50-day SMAs are converging around $106,200, providing support for BTC's current price action.
4. A successful breakout could mark the beginning of an expansive phase, but risks of a failed breakout remain.
5. The US stock market's all-time highs may act as a tailwind for crypto, but derivatives market signals will be key to confirming bullish conviction.
Description
Bitcoin is once again at a pivotal point in its cycle, reclaiming the $110,000 level in a strong bullish move that reignites hopes of a fresh leg higher. After months of consolidation and volatility, the leading cryptocurrency is now testing critical resistance, with analysts watching closely for a breakout into price discovery. A move beyond current highs could mark the beginning of an expansive phase that drives broader market momentum. Top analyst Axel Adler shared new data underscoring renew...
Latest News
- New Study Says Bitcoin Could Reach $4.81M by 2036, Driving Bitcoin Hyper Into Overdrive2025-08-15 15:17:39
- Bitcoin Supply Dynamics Paints A Clear Picture of The Current Phase Of The Market2025-08-15 14:03:44
- Coinbase Drops $3 Billion To Snag Deribit In Major Crypto Shake-Up2025-08-15 13:03:25
- US Treasury Bessent Backtracks BTC Reserve Statement – Next Crypto to Explode2025-08-15 12:05:23
- U-Turn In Cardano Governance: Foundation Backs Crucial Funding2025-08-15 12:03:02