๐จ BTC UPDATE: THE MARKET TRICKED THE BEARS ONCE AGAIN
If you wanted to understand why Bitcoin bounced right where everyone expected more downside, stick around ๐ follow me for more
The movement left several important signals:
๐ All Open Interest was wiped out
๐ Funding reset almost neutral
๐ Coinbase Premium in the negative showing real fear
๐ Massive liquidations of #long s below 75k
And stillโฆ BTC reacted strongly from a key demand zone between 70k-75k
The charts show something clear: the bounce didnโt just come from futures but also from real spot buys while the market remained extremely bearish
๐ง This is important because normally local bottoms appear when:
everyone expects more downside
the funding cools off
the OI deleverages
and the news keeps being negative
Additionally, the largest liquidity above continues to pile up between 78k-82k which opens the possibility of a short squeeze if BTC maintains strength
That DOES NOT mean that a new #ATH has started tomorrow
But it does mean that the โeasyโ drop scenario to 45k that many have been announcing since April is still unconfirmed
Right now the market seems to be more focused on sweeping liquidity and wrecking leveraged traders than on giving a clear direction
๐ง Data supporting the movement:
Very low funding after the drop
Open Interest falling sharply = healthy deleveraging
Negative Coinbase Premium = retail and institutional fear in the USA
Spot buys coming in right at important support
#Heatmap s continue to show strong liquidity above 78k
Thatโs why many experienced traders saw the bounce as a โmanual longโ after so much cleaning
The real question now is:
Does BTC reclaim 78k-80k to go for the short liquidity aboveโฆ or is it just setting up for another sweep before continuing the correction?
๐ I'm listening
If you wanted to understand why Bitcoin bounced right where everyone expected more downside, stick around ๐ follow me for more
The movement left several important signals:
๐ All Open Interest was wiped out
๐ Funding reset almost neutral
๐ Coinbase Premium in the negative showing real fear
๐ Massive liquidations of #long s below 75k
And stillโฆ BTC reacted strongly from a key demand zone between 70k-75k
The charts show something clear: the bounce didnโt just come from futures but also from real spot buys while the market remained extremely bearish
๐ง This is important because normally local bottoms appear when:
everyone expects more downside
the funding cools off
the OI deleverages
and the news keeps being negative
Additionally, the largest liquidity above continues to pile up between 78k-82k which opens the possibility of a short squeeze if BTC maintains strength
That DOES NOT mean that a new #ATH has started tomorrow
But it does mean that the โeasyโ drop scenario to 45k that many have been announcing since April is still unconfirmed
Right now the market seems to be more focused on sweeping liquidity and wrecking leveraged traders than on giving a clear direction
๐ง Data supporting the movement:
Very low funding after the drop
Open Interest falling sharply = healthy deleveraging
Negative Coinbase Premium = retail and institutional fear in the USA
Spot buys coming in right at important support
#Heatmap s continue to show strong liquidity above 78k
Thatโs why many experienced traders saw the bounce as a โmanual longโ after so much cleaning
The real question now is:
Does BTC reclaim 78k-80k to go for the short liquidity aboveโฆ or is it just setting up for another sweep before continuing the correction?
๐ I'm listening