21-11-25

BTC 4-hour chart update (84052)

Fear and Greed: 14 (Ex. Fear), yesterday 11 (Ex. Fear)

BTC Dominance: 58.88% Dominance has decreased from yesterday

Price action: Price is down 3.28% from the close of yesterday.

Premium Index: PI has decreased since yesterday and currently at - 0.0515 %.

Funding Rates: FR has decreased since yesterday and currently at 0.0043 %.

Open Interest: OI is at $56.46 B which has decreased from yesterday

Volume: Vol. is at $53.04 B which has increased from yesterday

To conclude: The price is being influenced by the selloff at the spot market at witnessed by the decrease in premium index and cumulative volume delta. The trader sentiment is bearish evident from the decrease in funding rates. Open interest has decreased which reduced pressure on price and may lead to price stabilization. The trading volume has increased but CVD and price action make it clear that it was sell side volume at the spot market rather than derivatives market shorts. Traders must remain cautious while opening longs.