In the crypto market, BTC open interest remains high, driven by an $8B surge in short positions compared to $1B in longs. This pattern, reminiscent of the April-May trend, suggests a need for further cooldown.

The BTC liquidation map raises the question of who will face liquidation first. Meanwhile, the Bitcoin supply in profit has dipped to 76%, typically signaling a great buying opportunity.

Despite the market fluctuations, long-term Bitcoin holders have not signaled a sell yet. This, coupled with the belief that we're still in a bull market, indicates that the bull market remains active.

However, another retest is likely, and the market should anticipate ongoing FUD news for a while. Despite the potential challenges, the outlook remains optimistic for those invested in the crypto market.

Written by elcryptotavo.