Bitcoin’s Gonna Moon… Or Is It? 🚀

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So, you wanna know about Bitcoin, huh? Well, let me tell you, it’s been a wild ride. The price is up 10% since June 5, and it’s getting close to all-time highs again. But, you know, don’t get too excited just yet.

  • Bitcoin’s price is still 6% below its all-time high, but some market signals are saying, “Hey, we might be going up from here!”

  • If Bitcoin can break through that pesky resistance level at $108,000, we might see a breakout to new all-time highs. But, you know, no promises.

So, what’s going on with Bitcoin? Well, analysts are saying that declining open interest and “liquidation exhaustion” (whatever that means) are suggesting that Bitcoin’s price is primed for the next move.

Is OI divergence bullish for Bitcoin price?

Apparently, there’s a thing called Onchain data that shows a notable divergence between Bitcoin’s price and Binance open interest (OI). And, guess what? It’s showing progressive deleveraging across the derivatives market. Yeah, I know, it sounds like a bunch of mumbo-jumbo.

But, basically, it means that while Bitcoin’s price came close to its all-time high on May 27, Binance OI didn’t quite reach its previous peak. Instead, it’s been making a series of lower lows, like a sad, sad chart. 📉

And, if you look at the Binance Liquidation Delta chart, you’ll see a big ol’ liquidation cluster around $104,000. That’s where all the long positions got forcefully closed when the price dipped below that level on June 13. Ouch! 😬

But, hey, at least the market correction was triggered by something exciting, like Israel’s attack on Iran. I mean, who doesn’t love a good geopolitical event to shake things up? 🤯

According to some analyst named Amr Taha, this is all just a “cleansing of latecomers chasing the rally.” Yeah, because that’s exactly what I want to hear when I’m trying to make some money in the crypto market. 🤑

‘Historically, BTC has shown bullish tendencies following rate stabilization, especially when paired with signs of liquidation exhaustion and fading open interest.”

And, hey, if you’re feeling optimistic, you can always look at the Bitcoin Short-Term Holder MVRV, which has returned to its mean despite the price nearing all-time highs. Yeah, because that’s not confusing at all. 🤔

What next Bitcoin price?

So, what’s next for Bitcoin? Well, the price is still range-bound below $105,000, but some analysts are saying it’s “trending back upward,” which is just a fancy way of saying “it’s going up, maybe.” 🤞

And, if you look at the chart, you’ll see a key resistance zone at $108,000, which is just begging to be broken. 🚀

“Facing the crucial resistance zone, through which we’re about to hit a new all-time high once we break through this resistance zone.”

So, there you have it. Bitcoin’s price might go up, or it might not. But, hey, at least it’s exciting, right? 😅

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2025-06-20 19:05