09-12-24

BTC 4-hour chart update (97518)

Fear and Greed: 78 (Ex, Greed), yesterday 79 (Ex. Greed)

BTC Dominance: 55.79% Dominance has increased from yesterday

Price action: price fell below the support of ema ribbon and currently facing resistance from the ribbon.

Premium Index: PI has decreased since yesterday and currently at 0.0316 %.

Funding Rates: FR has decreased since yesterday and currently at 0.0181 %.

Open Interest: OI is at $60.526 B which has decreased from yesterday

Volume: Vol. is at $35.954 B which has increased from yesterday

To conclude: Recent market outlook for Bitcoin suggest a optimistic picture. A decreased funding rates signal a potential short-term bullish trend as more traders enter short positions. A decreasing premium index points to a shift towards less speculative, spot market activity. This could be a positive long-term indicator. However, reduced lower open interest may lead to a less volatile market in the near future. Traders should exercise caution and monitor market developments closely.