Bitcoin’s Open Interest and demand level is key to short-term posture: Here’s why

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Long and short Bitcoin positions have not been exceptionally significant, although funding rate remained positive. While the Bitcoin fear and greed index hit highs in months, the king coin will need increased demand to sustain the rally. The performance of Bitcoin [BTC] since the start of 2023 has brought confidence back into the crypto market. […]

In fact, the signs of a pullback might already be glaring as BTC has found it difficult to surge beyond the $21,100 region in the last 24 hours. But what else could be influential in determining the king coin’s trend in the short term?few participants

However, he mentioned that investors should not write off the possibility of a drawback despite the projection. In Professor Satoshi’s words,

 

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