$BTC fell 7% overnight. The longs didn't leave.
On Binance perps, open interest in dollars dropped. In BTC terms it went UP, from ~100.2K to ~101.1K BTC. And 74.8% of accounts are still net long, up from 73.0% a day ago.
Levels I'm watching:
• 70,505 = broken support
• 68,528 = today's low so far
• 67,292 = next support
Why this matters, plus 3 scenarios:
https://www.binance.com/en/square/post/387699010948951
Not financial advice.
#Bitcoin #BTC #CryptoMarket
On Binance perps, open interest in dollars dropped. In BTC terms it went UP, from ~100.2K to ~101.1K BTC. And 74.8% of accounts are still net long, up from 73.0% a day ago.
Levels I'm watching:
• 70,505 = broken support
• 68,528 = today's low so far
• 67,292 = next support
Why this matters, plus 3 scenarios:
https://www.binance.com/en/square/post/387699010948951
Not financial advice.
#Bitcoin #BTC #CryptoMarket
