ChainCatcher message: an encryption analyst @AxelAdlerJr said that the Bitcoin futures market buy-pressure indicator rose to 4.9, the highest level since August 19; contract open interest increased by nearly 9,000 BTC within 24 hours.
The indicator reading suggests that the accumulated buy pressure over the past 12 hours is nearly five standard deviations above the average level over the past week. @AxelAdlerJr said that if the Bitcoin price remains above $85,000 while the upward momentum weakens, the rally could continue; if the price falls below $83,000, the liquidation of newly opened long positions could accelerate the drop.
The indicator reading suggests that the accumulated buy pressure over the past 12 hours is nearly five standard deviations above the average level over the past week. @AxelAdlerJr said that if the Bitcoin price remains above $85,000 while the upward momentum weakens, the rally could continue; if the price falls below $83,000, the liquidation of newly opened long positions could accelerate the drop.