BTC$77,971reached a monthly high of $79,472 on Wednesday, marking its strongest 28-day return since April 2025. The rally aligns with a shift in a market positioning metric and a surge in leverage use.
A combined view of the market positioning metric and open interest shows new positions are being added, potentially influencing BTC’s push toward new highs.
BTC positioning builds with rising leverage
Bitcoin researcher Axel Adler Jr. said that the Bitcoin positioning index has turned higher, with its 30-day average rising to 4.5 from -10.9 in February. The indicator blends net taker flow direction, open interest trends, funding and the exchange balance into a single metric.
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