Bitcoin Price Hits Resistance, Open Interest Falls Amid Stalled Rally
Bitcoin's price has stalled just below $81,337 resistance after a 1.43% gain in 24 hours to trade at $79,904.
The rally may be running out of steam as momentum indicators point to overbought territory: the Relative Strength Index (RSI) sits at 80.21 and the Moving Average Convergence Divergence (MACD) has gone flat.
Futures open interest fell 4.39% in a day, indicating traders are closing positions rather than adding new ones, according to data from CoinGecko.