Prediction evidence

Ma

That Martini Guy ₿

@MartiniGuyYT

Bitcoin open interest is telling a very different story. Price has fallen hard over the past few weeks. But open interest hasn't. That's the problem. When Bitcoin dumped from roughly $64,000 to $58,000, open interest only fell by around $1.1B. That isn't enough. It suggests someone was opening large short positions into the sell-off rather than the market fully deleveraging. Now look at the most recent candles. Price is moving higher while open interest is falling. That's usually shorts closing. The candle before that? Fresh longs opening. In other words... Late shorts are getting squeezed. New longs are chasing the bounce. But the bigger short position still appears to be sitting there. Until that position closes, I still think the path of least resistance remains lower.