[Analysis] "Bitcoin Expected to Adjust Considering Open Interest… Could Fall to $82,000"
Suehyeon Lee
- It was stated that a price adjustment is expected considering Bitcoin's open interest.
- The current Binance Bitcoin open interest size is at a maximum level of $12.5 billion.
- If Bitcoin follows past patterns, it could fall by 23.94% to $82,220.
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Image=CryptoQuant
Considering the open interest of Bitcoin (BTC), there is a possibility of an adjustment that could lead to a decline to the $82,000 range.
On the 24th (local time), CryptoQuant author Burak Kesmeci stated, "When the Binance Bitcoin futures open interest (OI) indicator overheats, there tends to be an adjustment before the market recovers. Currently, the Binance Bitcoin open interest size is at a maximum level of $12.5 billion."
The author further predicted, "If past patterns repeat, Binance's open interest could fall by 21.88% to reach $9.77 billion, and Bitcoin could also undergo an adjustment of about 23.94%, dropping to $82,220."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.PiCK News
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