BTC (BTC) Sentiment Analysis

4-hour chart: -

The 4-hour time range provides a clearer display of the horizontal price trend. The market initially set higher highs and lows within the uptrend channel.

However, it has already broken the downtrend and retested twice. As the RSI also shows a value below 50%, indicating a bearish momentum, the market may fall to the level of $90,000 before possibly continuing to rise.

Sentiment Analysis

Open Positions: -

In the past few years, the BTC futures market sentiment has consistently provided valuable insights, helping analysts predict potential volatility in the short term. This chart shows the open interest indicator, which measures the total number of outstanding perpetual futures contracts on derivative exchanges.

As shown in the figure, although the market has fallen below the $100,000 level and stopped trending, the value of open interest contracts has remained at historically high levels. This may indicate potential volatility in the short term, which is caused by a liquidation cascade effect. Therefore, investors should be cautious when investing in Bitcoin at the moment.