Recent market conditions have brought speculation about a local top in Bitcoin’s price. The liquidation of short positions around the 100,000 USD mark has fueled buying pressure, while the rise in open interest in derivatives signals increased trader confidence.
With Bitcoin’s RSI at 59.54 indicating potential overbought conditions, caution is warranted. Traders are attentive to signs of momentum exhaustion, as this could trigger a price correction despite strong institutional participation.
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