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BTC’s latest rally could leave investors feeling ecstatic but for how long?

  • 📰 CryptoAmb
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BTC’s price increased by more than 4% in the last 24 hours, along with a surge in its daily trading volume. This was a good sign for BTC especially after the price correction that followed after the SEC-Binance debacle.

Bitcoin’s derivatives market indicators were bullish, as were other on-chain metricssurprised investors with price gains, which earlier took a blow. The SEC vs. Binance episode caused trouble in the crypto space, because of which almost the entire market witnessed a slight price correction.

CryptoQuant’s recent analysis pointed out an interesting development that was happening at the time BTC’s price was getting ready for the latest pump. Eralp Buyukaslan, an author and analyst at CryptoQuant, revealed in his latestRetail investors’ short positions have been increasing dramatically for hours. While BTC’s price dropped, its funding rate turned negative. Historically,The derivatives market gave many hintsrevealed that BTC’s open interest was on a declining trend.

 

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