#BitcoinOpenInterestFallsToTwoMonthLow
š | WASHOUT OF BITCOIN LEVERAGE!
BTC is showing a massive bullish divergence: the price is surging while open interest is plunging to a two-month low.
The recent 23% rally toward the US$ 77KāUS$ 79K range isnāt powered by borrowed time ā itās driven by real spot buying. Spot Relative Volume (SRV) reached 2.94, about three times the 30-day average, indicating real demand emerging.
š„ WHAT HAPPENED? A massive wave of US$ 3 billion in short liquidations has just washed out the marketās excess leverage baggage. While price was rising, Bitcoin futures open interest fell from 762,000 BTC to 715,000 BTC.
š WHY THIS MATTERS:
A deleveraged market drastically reduces the risk of cascading flash crashes. Weāre building a solid foundation for the next big bullish move. Annual funding rates remain around 10%, showing optimism is there, but without overheating.
š Going forward, keep your radar on ETF inflows (US$ 307.5 million on August 21), funding rates, and changes in macro data.
Is the phase finally set for a major breakout? Tell me in the comments! šš
#bitcoin #CryptoNews
$BTC $PROM $VELVET
š | WASHOUT OF BITCOIN LEVERAGE!
BTC is showing a massive bullish divergence: the price is surging while open interest is plunging to a two-month low.
The recent 23% rally toward the US$ 77KāUS$ 79K range isnāt powered by borrowed time ā itās driven by real spot buying. Spot Relative Volume (SRV) reached 2.94, about three times the 30-day average, indicating real demand emerging.
š„ WHAT HAPPENED? A massive wave of US$ 3 billion in short liquidations has just washed out the marketās excess leverage baggage. While price was rising, Bitcoin futures open interest fell from 762,000 BTC to 715,000 BTC.
š WHY THIS MATTERS:
A deleveraged market drastically reduces the risk of cascading flash crashes. Weāre building a solid foundation for the next big bullish move. Annual funding rates remain around 10%, showing optimism is there, but without overheating.
š Going forward, keep your radar on ETF inflows (US$ 307.5 million on August 21), funding rates, and changes in macro data.
Is the phase finally set for a major breakout? Tell me in the comments! šš
#bitcoin #CryptoNews
$BTC $PROM $VELVET