Bitcoin’s value has dropped to around 108,400 USD as Google searches for crypto topics surged. This increase in interest reflects potential market behavior, indicating traders might be preparing for significant moves.
With open interest now at 38.7 billion USD, investor engagement remains high despite price declines. However, Bitcoin’s dominance has fallen to 57%, hinting at possible market indecision.
Despite some selling activity, derivative metrics suggest a bullish outlook, with funding rates at 0.0074%. Yet, outflows totaling approximately 60.7 million USD in BTC from exchanges reveal ongoing selling pressure from spot holders.
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