Bitcoin is back at $85K, but the important change is under the price: leverage has cooled instead of chasing the move.
Aggregate $BTC open interest eased from $21.8B to $20.9B while funding stayed near 3% annualized. That makes this retest cleaner than a rally built on crowded perpetual longs. Still, $85K is only the first test. #Binance ’s OTC desk flagged $85K-$87K as the zone BTC recently failed to hold.
Confirmation is not another wick above $85K. It is acceptance through $87K without open interest and funding accelerating faster than price. If leverage rebuilds first, the breakout becomes easier to unwind. If price leads, the setup is healthier.
Aggregate $BTC open interest eased from $21.8B to $20.9B while funding stayed near 3% annualized. That makes this retest cleaner than a rally built on crowded perpetual longs. Still, $85K is only the first test. #Binance ’s OTC desk flagged $85K-$87K as the zone BTC recently failed to hold.
Confirmation is not another wick above $85K. It is acceptance through $87K without open interest and funding accelerating faster than price. If leverage rebuilds first, the breakout becomes easier to unwind. If price leads, the setup is healthier.
