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Bitcoin has bounced around 0.6% to nearly $59,800, but derivatives data shows a mixed and uncertain picture.
Over the last 24 hours, around $200 million in liquidations took place, with long positions taking the biggest losses. However, in the past four hours, the trend flipped as nearly $20 million was liquidated, including about $13 million in short positions, suggesting the move toward $60K briefly surprised bearish traders.
Open interest has also declined back to levels seen earlier this month, erasing Friday’s increase to 775,000 BTC. On a positive note, volatility is cooling, with the BVIV index dropping 5% to 47% after a two-week rise.
Despite this..the options market remains cautious. Put interest around the $60K strike is close to $1 billion, nearly matching the $1 .11 billion in calls at the $80K level, showing the market is still split on Bitcoin’s next direction.
I'm keeping my portfolio focused because I believe strong conviction beats unnecessary diversification.
My entire portfolio is allocated to $XRP and my focus remains on the bigger picture. Short-term price swings don't change my long-term outlook. Every pullback is simply part of the process.
Patience and discipline often outperform emotional decisions. I'm holding my position and staying ready for the next major move.
The push for long-awaited crypto legislation is entering a crucial phase.
Although lawmakers are currently in recess, discussions are continuing behind the scenes to resolve the remaining issues before the next vote.
Key topics include stablecoin regulations, consumer protection, anti-money laundering standards, and defining the responsibilities of financial regulators.
With limited time once the legislative session resumes, an upcoming vote could become a major milestone for the digital asset industry.
If approved, the legislation could bring greater regulatory clarity, improve investor confidence, and support the long-term growth of the crypto market in the United States.
$AIGENSYN is testing a major resistance trendline...making this a crucial area to watch. A confirmed breakout could lead to continued bullish momentum, while failure to break above may result in a short-term correction.
$TSLA USDT is putting in a solid recovery on the 15m chart after tapping local support around 407.60. The price action is breaking out of the short-term downward channel with a strong bounce.... buyers are stepping back in to claim higher ground.
$KGEN USDT has built a very solid base on the weekly timeframe after a massive correction. The long-term accumulation pattern is finally starting to resolve to the upside, and the weekly candle is printing a healthy reversal structure.... looks ready to start a major macro uptrend from here.
$ZRO USDT is turning heavy on the 1h chart after failing to breach that 0.8340 resistance. We're starting to see consistent rejection candles printing at the highs, and the price is now slipping below local support structures.... looks ready for a deeper correction.
$USELESS USDT consolidating perfectly here after testing the 0.0775 area. The 15m chart shows a solid base forming, and with that orange arrow signaling upward intent, momentum should accelerate quickly once it crosses 0.0800....
$ID USDT is printing a textbook higher low structure on the short-term 15m chart. The bounce off the 0.0337 region looks solid, and bulls are actively defending this local support.... ready to target the recent highs.
$SKY USDT is shaping up nicely on the 4h setup after bottoming out near 0.0485. We're seeing a strong, aggressive V-shaped reversal print on the chart.... momentum is clearly shifting back to the buyers.
$RIF /USDT is putting in a very clean recovery on the 4h chart. It found a solid bottom around 0.056 and has been steadily grinding up with consistent higher lows.... volume is starting to pack a punch.