INSUBCONTINENT EXCLUSIVE:
Key takeaways:Bitcoin futures open interest has climbed +7% in 30 days, suggesting a bullish shift in sentiment.A Bitcoin market momentum
indicator shows that long-side buy pressure is rising.Bitcoin (BTC) futures showed renewed strength as their aggregated open interest (OI)
surged by +7% over the past 30 days, marking the first sustained uptick since the May through June 12% drawdown
This revival signals a potential shift in sentiment, with traders increasingly positioning for the upside as their appetite for volume and
leverage rises.Aggregated Open Interest in Bitcoin Futures
Source: Axel Adler JrRising OI with price typically suggests bullish momentum as fresh capital enters the market to support an uptrend
Still, Bitcoin researcher Axel Adler Jr
cautioned that a confirmed breakout may require OI growth to exceed +10%, ideally paired with expanding trading volumes to validate the
move.Additionally, Adler Jr
noted that the Bitcoin Futures Market Power v2.0 indicator, which combines OI, funding rates and taker-side aggression, currently sits at
While far from euphoric levels seen in past rallies with scores above 80,000, the metric reflects growing long-side pressure and a
strengthening bullish consensus without signs of overheating
The indicator reflects a positive score for the first time since May, while a similar score in the 20,000 range signaled the price bottom in
April.Bitcoin Futures Market Power v2.0 data
Source: Axel Adler JrBitcoin net futures positioning also flipped positive, with net long exposure rising to $27.4 million
This net bullish stance has held above zero for over 24 hours, suggesting that even as BTC consolidates near $108,000, traders are gradually
breakout'After closing its strongest weekly candle, Bitcoin faced a minor pullback to $108,000 from $109,500, forming a double top on lower
Despite the dip, BTC maintains intraday support at the 200-day exponential moving average (EMA) on the one-hour chart
However, a sweep of equal lows near $107,300 remains probable before any upside continuation
Equal lows refer to price points where BTC has formed identical support levels multiple times, typically signaling resting liquidity that
traders could target for a deeper move
Source: Cointelegraph/TradingViewA move below $107,000 could fill the nearby fair value gap between $107,000 and $106,300
A swift bullish reaction would be pivotal below $107,000, marked by strong buy absorption, which should send BTC back above $108,000
Failure to do so could open the door to deeper losses at $105,000.Conversely, a strong defense of $108,000 followed by a clean break above
$109,500 would invalidate the equal highs retest narrative and set the stage for a rally above $112,000 this week
Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
