$BTC above 86,000—strangely, the money in the contract is moving the other way
Binance $BTC is currently priced at $86,704. In the past 24 hours, it’s up +1.22%, with a high of $86,975.51 today. The 30-day high is $87,385.10, and it’s still hanging overhead.
On the futures side, things are going in the opposite direction. Open interest over the last 24 hours fell from 109,090 to 106,771 contracts, down 2.13%—about $9.238 billion. The funding rate is 0.0038% per 8 hours, lower than Binance’s 0.01% benchmark. That means longs haven’t been squeezed out by a premium—so this upswing isn’t being pushed by leverage adding.
The “chips” are also split into two groups. By the big-wallet position measure, longs account for 66.95%, but by the number-of-big-wallets measure, longs are only 49.70%. Retail is 47.27%. The side with more money is betting long, while the side with more participants is betting short.
On the chart: on the daily timeframe, price is standing above the MA20 at 79,609.93. On the 1-hour chart, the moving averages are in a bullish order. MA20 is at 86,252.65, and the current price is only 0.47% away from it. The 1-hour RSI14 is already at 64.96, and the Bollinger Bands have broken out beyond the upper band. Resistance overhead is 86,963.40, and support below is 85,287.20. The data is on the side favoring bulls, but 86,963.40 is the gate for the short-term; if 85,287.20 is lost, then that’s the point where you stop looking.
It’s the early stage of a bull market—gold everywhere. Hold long-term. With $BTC in a small position, you can enter at the current price: buy more as it dips, buy more the more it drops, and buy smaller dips.
$BTC
#Bitcoin breaks above May’s high, approaching $86,000
Binance $BTC is currently priced at $86,704. In the past 24 hours, it’s up +1.22%, with a high of $86,975.51 today. The 30-day high is $87,385.10, and it’s still hanging overhead.
On the futures side, things are going in the opposite direction. Open interest over the last 24 hours fell from 109,090 to 106,771 contracts, down 2.13%—about $9.238 billion. The funding rate is 0.0038% per 8 hours, lower than Binance’s 0.01% benchmark. That means longs haven’t been squeezed out by a premium—so this upswing isn’t being pushed by leverage adding.
The “chips” are also split into two groups. By the big-wallet position measure, longs account for 66.95%, but by the number-of-big-wallets measure, longs are only 49.70%. Retail is 47.27%. The side with more money is betting long, while the side with more participants is betting short.
On the chart: on the daily timeframe, price is standing above the MA20 at 79,609.93. On the 1-hour chart, the moving averages are in a bullish order. MA20 is at 86,252.65, and the current price is only 0.47% away from it. The 1-hour RSI14 is already at 64.96, and the Bollinger Bands have broken out beyond the upper band. Resistance overhead is 86,963.40, and support below is 85,287.20. The data is on the side favoring bulls, but 86,963.40 is the gate for the short-term; if 85,287.20 is lost, then that’s the point where you stop looking.
It’s the early stage of a bull market—gold everywhere. Hold long-term. With $BTC in a small position, you can enter at the current price: buy more as it dips, buy more the more it drops, and buy smaller dips.
$BTC
#Bitcoin breaks above May’s high, approaching $86,000