Crypto Blog
Bitcoin’s price is located in a key area at the moment and is one bullish breakout away from rallying toward a new all-time high.On the daily chart, the price has been rallying consistently over the past few days, following its rebound from $60K. With BTC also being above the 200-day moving average, which is located around the $64K level, the market can be considered bullish once again.
If the market fails to break above the $69K resistance zone soon, a correction toward the $64K level would be probable. This chart demonstrates the Bitcoin open interest metric, which measures the number of open perpetual futures contracts. It’s a proxy for futures market sentiment, showing aggregate participation and optimism.
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