Bitcoin is preparing for a new peak? Or is the rise over?
The open interest volume indicator, which measures the volume of liquidity in the market, is still recording its highest historical levels.
The highest level reached by this indicator at the beginning of this month with a liquidity volume of $ 33 billion when Bitcoin reached $ 104 thousand.
But Bitcoin has undergone a correction due to the rise in long positions in the market and the increase in greed among traders, and this appeared to us on the Funding rate indicator.
Today, the volume of open interest increased again and the Funding rate indicator is low, the market will rise again after the liquidation of long positions.
I see the current rise as healthy and Bitcoin is preparing to achieve a new peak in the coming days.
