Este Artículo También Está available en español.
Bitcoin Open Interest He crashed from billions on a weekend, painting a bearish prospect for the top cryptocurrency and the Doom spells for BTC Bulls. Despite this setback, Crypto analysts have provided some optimism with their analysis, which soon suggests a bullish inversion.
Bitcoin’s open interest is freezing $ 4.5 billion at the weekend
Coinglass data It shows that Bitcoin’s open interest collapsed by $ 4.5 billion on the weekend, descending from $ 65 billion to $ 61.5 billion. This came after the liquidations that occurred due to the BTC Price Crash. Further data from Coinglass show that over $ 2 billion have been swept away by the Bitcoin market in the last 24 hours.
Reading Reading
Bitcoin Bulls took the maximum, since $ 1.88 billion in long positions were liquidated during this period, leading to an accident The open interest of BTC. This paints a bearish prospect for the top cryptocurrency and endangers the bulls while the bears seem to be firmly in control. For the context, Bitcoin has fallen from over $ 100,000 to $ 92,000 on the weekend.
This collapse of the Bitcoin price occurred after President of the United States Donald Trump He announced a 25% rate on imports from Mexico and Canada and a 10% rate on goods from China. Mexico and Canada took revenge by imposing rates to goods from the United States, while China has also suggested to impose a tariff on US assets.
Bitcoin’s open interest seems unlikely to recover in the short term since market participants could choose to stay out of the market due to economic uncertainty. This occurrence enchants Doom for Bitcoin Bulls since the top cryptocurrency could decrease if there are no buyers to defend the BTC at these levels.
Some positive for bitcoins in an incident of open interest
In a post X, cryptographic analyst Ali Martinez He revealed that 65.75% of Binance operators with open -bitcoin futures positions are betting on the positive side. This is bullish for the price of the BTC as these traders have a story of being right most of the time. As such, the peak cryptocurrency could bounce from its current price level.
In a post X, cryptographic analyst Titan of Crypto He said the largest trend for the Bitcoin price is still upwards. This came when he revealed that BTC is establishing a new interval between $ 104,400 and $ 93,600. The Crypto analyst observed that the short -term direction remains uncertain until this range breaks. However, in the long term, Titan of Crypto is confident that the wider trend is still upwards.
Reading Reading
In the meantime, renowned author and finance expert Robert Kiyosaki He suggested that this was not the time to panic as this was an opportunity to buy Bitcoin for sale before he gathered further up.
At the time of the drafting, the Bitcoin price is exchanged at around $ 94,000, down by more than 6% in the last 24 hours, according to data from Coinmarketcap.
First floor image from Istock, TradingView.com graphic