Crypto
Bitcoin Sees $83K as Binance Open Interest Tops $10B
Bitcoin is hovering near $80,000 as Binance's open interest tops $10 billion. The price action has been volatile, with a narrow range between $79,442 and $79,774 on the daily chart.
The overall structure remains bullish, following a rebound from June-July lows around $58,000-$60,000. Traders are waiting to see if Bitcoin can hold above $79,000 and build momentum towards the key resistance zone of $82,000-$82.8K.
Rising futures positioning on Binance has added another layer of volatility to the setup. The Ichimoku setup still favors buyers, with the price above the Tenkan-sen and daily cloud.