02-12-24

BTC 4-hour chart update (95502)

Fear and Greed: 80 (Ex, Greed), yesterday 83 (Ex. Greed)

BTC Dominance: 56.35% Dominance has decreased from yesterday

Price action: sideways trading dominating the day.

Premium Index: PI has decreased since yesterday and currently at 0.0313 %.

Funding Rates: FR has increased since yesterday and currently at 0.0229 %.

Open Interest: OI is at $56.94 B which has increased from yesterday

Volume: Vol. is at $31.554 B which has increased from yesterday

To conclude: The Funding Rates climbed, indicating a surge in speculative long positions. The premium index decreased signaling spot market influence over BTC price increasing. The Open Interest increased which increases market pressure on price and increases the likely hood of volatility. Trading volume has increased which means there is momentum, hinting at growing trader interest. Short-term sentiment leans cautiously optimistic. The rise in Funding Rates might limit upside potential as new long positions emerge. However, rising open interest and increasing volume point to an active trading environment. Keep an eye on potential resistance as the Premium Index suggests heightened speculation.