$BTC

Bitcoin [BTC] made significant gains over the past 24 hours, with the crypto climbing by 0.85% to hit $106k after dropping to $103k – Its lowest level of the week.

Given the recent developments in the derivatives market, analysts believe Bitcoin may have the potential to stage a strong rally this week. In fact, AMBCrypto’s analysis covered the key factors that could influence this movement.

Open interest spikes by $400M — Bullish momentum or trap?

Bitcoin’s buying volume has regained some semblance of dominance, according to the Taker Buy/Sell Ratio on CryptoQuant.