#DayTradingStrategy Bitcoin futures shift towards long positions: Are $112,000 the next stop?

Bitcoin futures show increasing buying pressure on the long side as open interest rises.

Bitcoin futures shift towards long positions: Are $112,000 the next stop?

Market update

Key points:

Open interest in Bitcoin futures has increased by +7% in 30 days, suggesting a bullish shift in sentiment.

A market momentum indicator for Bitcoin shows that buying pressure on the long side is increasing.

Bitcoin futures

BTC

€92,393

showed renewed strength as their aggregated open interest (OI) rose by +7% in the last 30 days, marking the first sustained rebound since the 12% drop from May to June. This resurgence signals a possible change in sentiment, with traders increasingly positioning themselves bullishly as their appetite for volume and leverage grows.

Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Bitcoin Futures, Price Analysis, Market Analysis

Aggregated open interest in Bitcoin futures. Source: Axel Adler Jr

The increase in OI with price typically suggests bullish momentum as new capital enters the market to support an upward trend. Still, Bitcoin researcher Axel Adler Jr. warned that a confirmed breakout may require OI growth to exceed +10%, ideally accompanied by an increase in trading volumes to validate the move.