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Market Cap
24h Vol
12837
Cryptocurrencies
60.66%
Bitcoin Share
BitcoinSistemi 2025-02-25 10:42:08

Latest Data Announced as Bitcoin's Decline Continues: What to Expect in the Coming Days for BTC? Analyst Evaluates!

Latest Data Announced as Bitcoin's Decline Continues: What to Expect in the Coming Days for BTC? Analyst Evaluates!

The decline in Bitcoin and altcoins, which started yesterday evening, deepened and BTC dropped to $91,000. With this decline in Bitcoin, the open interest of BTC futures on Binance increased and the Cumulative Volume Delta (CVD) on the Exchange became negative. According to CoinDeskin, Bitcoin futures open interest on the BTC/USDT pair increased by 12,000 BTC (over $1 billion) on Binance. Market analyst Omkar Omkar Godbole noted that if the BTC futures open interest increases simultaneously with the price decline in Bitcoin, it indicates a bearish trend. According to the analyst, this shows that there is an increase in short positions and investors who expect the downward trend to continue. “An increase in Bitcoin futures open interest, combined with a price decline, is considered to represent a bearish reversal and an increase in short positions. In other words, traders are opening new short positions as the price falls, in anticipation of a prolonged sell-off.” The analyst also noted that the decline in CVD has deepened further, indicating that selling pressure is outweighing buying activity. CVD measures the net flow of capital into the market; positive and rising numbers indicate buyer dominance, while negative numbers reflect increasing selling pressure. The analyst also noted that a bearish marubozu candlestick pattern emerged on the Bitcoin chart during yesterday’s decline. According to the analyst, the marubozu candlestick pattern could encourage sellers and lead to further declines as the Bitcoin price remains below the 50- and 100-day simple moving averages (SMA). *This is not investment advice. Continue Reading: Latest Data Announced as Bitcoin's Decline Continues: What to Expect in the Coming Days for BTC? Analyst Evaluates!

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