Recently we had a massive open interest wipeout for Bitcoin.
We are still in a bull market. In this situation, it's possible we will fully retrace this correction, and head to all time highs.
In a bull market, and OI wipe means forced sellers are done. Without forced selling, it is magnitudes more difficult for the market to go lower (would have to be spot driven).
While we may still be short term bearish, if Bitcoin can absorb all the selling at the range lows, It would most likely mean we head to new highs.
We are still in a bull market. In this situation, it's possible we will fully retrace this correction, and head to all time highs.
In a bull market, and OI wipe means forced sellers are done. Without forced selling, it is magnitudes more difficult for the market to go lower (would have to be spot driven).
While we may still be short term bearish, if Bitcoin can absorb all the selling at the range lows, It would most likely mean we head to new highs.