The recent drop of $5 billion in Open Interest and low profit-taking among investors indicate a possible market reset rather than a downturn. This stability suggests strong HODLer conviction, which may set the stage for a Bitcoin season.
With the Season Index currently at 55, there’s no clear leader in the market, but mixing indicators suggest the potential for a Bitcoin season soon, as current on-chain data points towards a continuation of the bullish cycle for BTC.
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