Bitcoin is resilient, but fresh leverage is missing, and that should slow every bull down. ⚠️
CoinDesk Daybook reports Bitcoin futures open interest held largely unchanged near 53.40 billion dollars, according to CoinGlass, even as price reclaimed 80,000 dollars. 💥 In the past 24 hours crypto futures shorts worth 450 million dollars were liquidated, with Bitcoin alone accounting for 300 million, the highest since 21 September. 📊 My reading is that this rally was driven by shorts unwinding, not by new longs piling in, because open interest flat plus heavy short liquidations is the classic squeeze signature. A squeeze can carry price a long way, but without fresh money it runs out of fuel fast.
Does fresh leverage finally arrive above 81,000, or does the rally fade without it? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketUpdate
CoinDesk Daybook reports Bitcoin futures open interest held largely unchanged near 53.40 billion dollars, according to CoinGlass, even as price reclaimed 80,000 dollars. 💥 In the past 24 hours crypto futures shorts worth 450 million dollars were liquidated, with Bitcoin alone accounting for 300 million, the highest since 21 September. 📊 My reading is that this rally was driven by shorts unwinding, not by new longs piling in, because open interest flat plus heavy short liquidations is the classic squeeze signature. A squeeze can carry price a long way, but without fresh money it runs out of fuel fast.
Does fresh leverage finally arrive above 81,000, or does the rally fade without it? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketUpdate
