Crypto
Bitcoin Open Interest Collapses to 12% Amid MACD Death Cross
Bitcoin's open interest has plummeted to 12%, sparking questions about whether the short squeeze has run its course.
The current price of BTC sits at $77,927.04 within the Bollinger bands, with upper resistance at $80,444.38.
The technical structure remains bullish above the EMA50 at $74,406.79 and EMA200 at $68,012.35, but the MACD death cross at 1,411.6 and RSI at 54.99 suggest a potential test of lower band support at $75,773.31 before any fresh move higher.