⚡ Bitcoin $BTC bounces up 2.4% from a local low; Open Interest surges ahead of the CPI
From 3/9 to 8/9, BTC corrected 5.7% from $82,300 down to $77,620, but in the past 24 hours it has reversed and risen 2.4%. Open Interest is gradually increasing, suggesting that derivatives capital is returning.
Why is it noteworthy?
Even though long-term holders have reduced supply by 98.5k BTC since early August, and September’s SOPR is 1.14 (strong profit-taking above $80,000), the price still holds above $77,555 — the supply zone worth watching is the May high at $82,850.
In simple terms:
Both buyers and sellers are actively trading, and this week’s CPI report could trigger wild swings in Bitcoin.
#Bitcoin #CryptoNews
🔗 Source: AMBCrypto
⚠️ Information is for reference only and not investment advice. Please do your own research before deciding (DYOR).
From 3/9 to 8/9, BTC corrected 5.7% from $82,300 down to $77,620, but in the past 24 hours it has reversed and risen 2.4%. Open Interest is gradually increasing, suggesting that derivatives capital is returning.
Why is it noteworthy?
Even though long-term holders have reduced supply by 98.5k BTC since early August, and September’s SOPR is 1.14 (strong profit-taking above $80,000), the price still holds above $77,555 — the supply zone worth watching is the May high at $82,850.
In simple terms:
Both buyers and sellers are actively trading, and this week’s CPI report could trigger wild swings in Bitcoin.
#Bitcoin #CryptoNews
🔗 Source: AMBCrypto
⚠️ Information is for reference only and not investment advice. Please do your own research before deciding (DYOR).