According to ChainCatcher, 10xResearch said in its latest analysis that Bitcoin attempted to rebound yesterday but failed to break through the triangle pattern.

However, with the changes in election odds and a slight favorable risk appetite environment, Bitcoin may try to break up again. The possibility of rising to $ 65,000 is within the scope.

As expected, long positions in perpetual contracts are limited after the sharp decline following the crash on August 5. Ethereum open interest remained relatively unchanged, while small short positions in Bitcoin were likely closed, driving prices higher. On a positive note, derivatives positions are no longer overextended, unlike in late July, when excessive leverage led to an inevitable pullback.