Bitcoin Eyes $83K as Binance Open Interest Surpasses $10 Billion

Bitcoin is eyeing a price of $83,000 as Binance's open interest tops $10 billion. The cryptocurrency has been trading near $80,000 on Binance's daily chart, with its broader structure remaining bullish following a rebound from the June-July lows.

Rising futures positioning on Binance has added another layer of volatility to the setup. The key resistance zone for Bitcoin is around $82K-$82.8K, which it has been testing in recent days.

Daan Crypto said that major high-timeframe structure breaks rarely happen cleanly and often result in choppy trading and local liquidity sweeps. He expects Bitcoin to continue trading within its current range, with the potential for squeezes in both directions.

The 14-day RSI is at 66.55, keeping momentum bullish without entering overbought territory. However, a move back above 70 would strengthen momentum behind another upside attempt, while a drop toward 50-55 would signal a more meaningful slowdown.