BTC to $32,000, who says no? ↗️

Research analyst Alex Adler Jr. posted on X (formerly Twitter). According to Adler, there has been an increase in the number of #bitcoin ’s long positions.

Adler, in his post, also considered the state of the Taker Orders. The Taker Orders measure both the bid and ask positions taken by traders in the derivatives market.

According to the analyst, the cumulative 8-hour delta of Taker Orders was positive. This data reinforced the notion that market sentiment was bullish.

Also, Coinglass revealed that Open Interest in $BTC Futures within the last 24 hours has increased. As an indicator to determine price strength, Open Interest is the total number of contracts held by market participants.

When Open Interest increases, it implies an increase in liquidity. When it decreases, it means a surge in the closing of contracts initially held. While the former was the case, it was also interesting to observe that traders were targeting as high as $32,000.