Open Interest reaches the mid-range indicating neutral sentiment in interest in new positions. Despite this, the price still remains in the region of the last top created in March.

The Open Interest range continues to be highly volatile in the upper region, which means that there is room for more liquidations from leveraged traders looking for liquidity.

Sentiment is still euphoric in the market, according to indicators from the BTC futures market. An example of this is Funding Rates, which still remain high in the Upper range.

It's a dangerous price region for leveraged traders and if pressured could trigger a deeper correction breaking the current price structure.

This would take the Open Interest range down to the lower band, the Region of Extreme Fear, marked in red on the chart.

Written by G a a h