Key points:
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Bitcoin futures open interest climbed +7% in 30 days, indicating a shift in bullish sentiment.
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Bitcoin market momentum indicators indicate that long-term buying pressure is rising.
Bitcoin (BTC) Futures show the power of renewal when summarizing Open interest (OI) soared +7% in the past 30 days, marking the first sustained growth since a 12% decline from May to June. The revival marks a potential emotional shift, with traders increasingly positioning as their demand for quantity and leverage increases.
Prices that rise in prices usually indicate bullish momentum as new capital enters the market to support the upward trend. Despite this, Bitcoin researchers are small.
In addition, Adler Jr. Famous The Bitcoin Futures Market Electricity V2.0 indicator combines OI, funding rate and Taker-side aggression, and is currently 22,000. Although the elated levels of scoring over 80,000 well exceeded 80,000 in past rallies, the measure reflects long-term stress and enhanced bullish consensus without signs of overheating. The indicator reflects the first positive score since May, while similar scores in the 20,000 range indicate the lowest prices in April.
Bitcoin Net Futures Positioning Flip positivenet long-term net rose to $27.4 million. This bullish position has exceeded zero for more than 24 hours, indicating that even though BTC consolidates nearly $108,000, traders are gradually stacking long positions, with bullish breakouts expected.
Related: Bitcoin Bollinger hits key points before “upward breakthrough”
Bitcoin may see “equal lows” drop below $107,000
Bitcoin faced a small pullback from $109,500 to $108,000 after closing the strongest weekly candle, forming a double-layer top in the lower time frame. Despite the decline, BTC maintains intraday support at the 200-day exponential moving average (EMA) on the one-hour chart.
However, an equal low sweep may still be possible before any rise continues. Equal lows refer to the price point where BTC forms the same support level multiple times, usually targeting the static liquidity traders with deeper action. In this case, BTC’s previous low price was $107,300, consistent with the earlier liquidity blocks, strengthening the possibility of stopping hunting.
Actions below $107,000 may fill the nearby fair value gap between $107,000 and $106,300. The rapid bullish reaction will be below the key point of $107,000, marking a strong buy absorption, which should bring BTC back more than $108,000. If you don’t, you can open the door to deeper losses, $105,000.
Instead, a strong defense of $108,000, then a clean break above $109,500 would equally invalidate the narrative and set the stage above $112,000 at this week’s rally.
Related: “Fake Moving” to $105K? 5 Things You Know About Bitcoin This Week
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
