{"id":35137,"date":"2025-07-04T00:16:31","date_gmt":"2025-07-04T00:16:31","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35137"},"modified":"2025-07-04T00:16:31","modified_gmt":"2025-07-04T00:16:31","slug":"bitcoin-open-interest-turns-positive-again-still-far-from-the-leverage-frenzy-of-2024","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35137","title":{"rendered":"Bitcoin Open Interest Turns Positive Again \u2013 Still Far From The Leverage Frenzy Of 2024"},"content":{"rendered":"
\n

Bitcoin is once again at a pivotal point in its cycle, reclaiming the $110,000 level in a strong bullish move that reignites hopes of a fresh leg higher. After months of consolidation and volatility, the leading cryptocurrency is now testing critical resistance, with analysts watching closely for a breakout into price discovery. A move beyond current highs could mark the beginning of an expansive phase that drives broader market momentum.<\/p>\n

Top analyst Axel Adler shared new data underscoring renewed trader confidence. Following record spikes in open interest (OI) \u2014 with growth of 79% in spring 2024, 59% in autumn, and 36% in May \u2014 the last 30 days have seen a notable shift. OI change has moved from a negative -9% to a positive +5%, signaling that traders are once again building futures positions, albeit with more caution and less leverage than in past phases.<\/p>\n

This shift in derivatives positioning comes as macro conditions improve and risk appetite gradually returns to the crypto space. However, bulls will need a catalyst \u2014 whether technical or macroeconomic \u2014 to breach resistance and sustain a breakout<\/a>. The coming days could define Bitcoin\u2019s trajectory for the remainder of the quarter.<\/p>\n

Bulls Eye Breakout As Bitcoin Nears All-Time Highs<\/h2>\n

Bitcoin is approaching a critical moment as it flirts with its $112,000 all-time high. With bullish momentum accelerating, many investors believe the market is preparing for a new expansive phase. However, as BTC trades near record levels, the risks of a failed breakout grow. Sentiment remains broadly positive, supported by rising equity markets and a reduction in macroeconomic uncertainty. Yet, analysts warn that unless Bitcoin decisively clears resistance soon, the probability of a correction into lower levels will increase.<\/p>\n

The US stock market hitting new all-time highs adds to the optimism, often acting as a tailwind for crypto. Still, a breakout above $112K will require more than technical strength \u2014 it needs a catalyst. Axel Adler points to<\/a> the derivatives market for early signs of conviction. Open interest (OI) growth, which saw record spikes of 79% in spring 2024, 59% in autumn, and 36% in May, has now moved from -9% to +5% over the past 30 days. This shift suggests traders are cautiously re-entering the market, though with less aggressive leverage.<\/p>\n

\"Bitcoin<\/p>\n

Bears, meanwhile, are expected to defend the ATH zone. For bulls to succeed, a strong narrative \u2014 such as presidential support, dovish Fed signals, or macro triggers \u2014 may be necessary to awaken risk appetite and send Bitcoin decisively into price discovery.<\/p>\n

BTC Price Action: Near Breakout Point<\/h2>\n

The 12-hour BTC\/USDT chart shows Bitcoin attempting a critical breakout above the $109,300 resistance level. After multiple rejections in June and early July, BTC has once again surged, printing a strong candle that now flirts with price discovery just below the $112,000 all-time high. Momentum has shifted in favor of the bulls after a successful defense of the $103,600 support zone, which coincided with a bounce off the 100 and 50-day SMAs, currently converging around the $106,200 level.<\/p>\n

\"BTC<\/p>\n

This moving average cluster acted as dynamic support, validating short-term bullish strength. Volume also increased slightly during the recent push, a positive signal after weeks of fading conviction. A clean and sustained break above $109,300 would open the path toward retesting ATHs and potentially entering a new expansive phase.<\/p>\n

However, traders should be cautious of potential fakeouts. This level has acted as a firm resistance for nearly two months, and a rejection could send BTC back toward the $106,000 support cluster or even the $103,600 level. For now, bulls hold the upper hand, but follow-through above resistance with rising volume will be key to confirm a true breakout and continuation toward new highs.<\/p>\n

Featured image from Dall-E, chart from TradingView<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is once again at a pivotal point in its cycle, reclaiming the $110,000 level in a strong bullish move that reignites hopes of a fresh leg higher. After months of consolidation and volatility, the leading cryptocurrency is now testing critical resistance, with analysts watching closely for a breakout into price discovery. A move beyond […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35137","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35137"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35137\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}