Bitcoin is back above $79K, but this move looks different from a typical risk-on rally.
BTC rose as much as 1.6% since midnight UTC while European equities moved lower and U.S. stocks also weakened. At the same time, gold and silver gained, suggesting crypto is currently trading more closely with metals than equities.
Derivatives data adds another interesting layer. Bitcoin open interest has declined alongside the price rebound, which could mean yesterday’s shorts are being closed rather than fresh bullish leverage entering the market.
Options traders are also leaning toward calls, with $80K–$90K strikes dominating volume.
So the key question for me is simple:
Is BTC starting a real recovery, or is this just a short squeeze before another volatile move?
#Bitcoin #BTC☀ #crypto
BTC rose as much as 1.6% since midnight UTC while European equities moved lower and U.S. stocks also weakened. At the same time, gold and silver gained, suggesting crypto is currently trading more closely with metals than equities.
Derivatives data adds another interesting layer. Bitcoin open interest has declined alongside the price rebound, which could mean yesterday’s shorts are being closed rather than fresh bullish leverage entering the market.
Options traders are also leaning toward calls, with $80K–$90K strikes dominating volume.
So the key question for me is simple:
Is BTC starting a real recovery, or is this just a short squeeze before another volatile move?
#Bitcoin #BTC☀ #crypto
