Bitcoin’s sideways consolidation underlined cautious optimism among long-term holders
Could this quiet stacking phase be the calm before the next major breakout?
Bitcoin [BTC], at press time, seemed to be stuck in a “neutral” zone, not falling apart, but not breaking out either. And the mood? Pretty fragile. The market has been leaning on assumptions – Maybe the Fed eases up, maybe geopolitical tensions fade. All very “maybe.”
Alongside that, Bitcoin’s Open Interest (OI) spiked 3.4%, signaling that fresh leverage may be creeping back in. It’s a bold move, especially considering that June alone saw two major long liquidations that derailed any real recovery attempts.
But what if this new positioning isn’t just blind speculation? A trader with a perfect 29-for-29 trade record just opened a $29 million long on BTC. Could they be seeing something the rest of the market hasn’t priced in yet?
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