💻 CryptoQuant Analyst Axel:

🟠 No significant panic selling is in sight.

🟠 The nearest significant support level is at $97.9k and is held by the group holding coins for one week to one month.

🟠 BTC Futures Open Interest (OI) is at a high level, labeled “High Leverage” on the chart. This indicates that the market is over-leveraged. Such spikes in OI on the chart, especially when combined with elevated price levels, have historically led to waves of deleveraging. The current over-leveraged conditions could be a trigger for short-term deleveraging.

97.9K we'll see❓

Won't even be 99 🤩

Of course not 👌

Of course yes 😱

We'll be very lucky if we bounce off this level 🎃

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