Bitcoin Open Interest and Derivative Market Remains Indecisive
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Bitcoin is currently trading at $62,925, experiencing an intraday drop of 0.23%. The open interest is at $14.859 billion with the Taker Buy Ratio balanced at 0.49, suggesting equal footing between buying and selling pressures.
Additionally, the shift in the funding rate from 0.0055 to -0.0004012 indicates a reduction in leverage use, reflecting traders’ caution amid uncertain market directions. However, Bitcoin may stabilize around the current price level in the short term. Investors should monitor key resistance at $65,000 and support at $60,000, as a break beyond these levels could signal new directional movements.
