This morning, after breaking above $84,000 to hit a new high since January, BTC had returned to around $82,800 by midday (around 13:00 HKT) (Finnhub: intraday high of $84,898).
On one side, bullish sentiment isn’t backing down. Bitfinex says futures open interest rebounded 4.2% from the October 12 low to 645,410 BTC. During peak hours, funding rates were annualized at 7–9%, and leveraged longs are still adding to their positions (reported by fxstreet and tradingkey).
On the other, the market structure isn’t cooperating. According to alphafinance’s liquidation heatmap, the largest long concentration is at $82,358, less than 1% below the current price. A break below that level would force roughly $92.4 million in longs to exit. The most crowded short cluster is at $85,412; total short-side liquidity is about $1.33 billion, thicker than the roughly $986 million below. The max pain for options expiring Friday is also near $82,000.
I’m inclined to see this as a cooldown after a false breakout rather than a reversal: longs are still paying to hold their positions, but the exit door is right beneath their feet. Two levels to watch below: $83,400 is this week’s densest supply wall (according to COINOTAG); holding above it would count as a reclaim. If $82,358 gives way, the $81,200–$82,700 buying zone is the next buffer.
$BTC
#Bitcoin #加密货币 #BTCPriceAction
Not investment advice.
On one side, bullish sentiment isn’t backing down. Bitfinex says futures open interest rebounded 4.2% from the October 12 low to 645,410 BTC. During peak hours, funding rates were annualized at 7–9%, and leveraged longs are still adding to their positions (reported by fxstreet and tradingkey).
On the other, the market structure isn’t cooperating. According to alphafinance’s liquidation heatmap, the largest long concentration is at $82,358, less than 1% below the current price. A break below that level would force roughly $92.4 million in longs to exit. The most crowded short cluster is at $85,412; total short-side liquidity is about $1.33 billion, thicker than the roughly $986 million below. The max pain for options expiring Friday is also near $82,000.
I’m inclined to see this as a cooldown after a false breakout rather than a reversal: longs are still paying to hold their positions, but the exit door is right beneath their feet. Two levels to watch below: $83,400 is this week’s densest supply wall (according to COINOTAG); holding above it would count as a reclaim. If $82,358 gives way, the $81,200–$82,700 buying zone is the next buffer.
$BTC
#Bitcoin #加密货币 #BTCPriceAction
Not investment advice.