The continuous increase in Bitcoin open contracts has become the focus of market attention. According to a report by CryptoQuant analyst ShayanBTC, despite recent market fluctuations, the number of open perpetual futures contracts for Bitcoin has been steadily rising. This phenomenon indicates increased activity in the perpetual contract market and may signal a decisive breakthrough in Bitcoin's price.

In another analysis, CryptoQuant used on-chain data and the Wave Net deep learning algorithm to predict that Bitcoin's price will fluctuate between $93,000 and $110,000 in the coming month. Although the current price of Bitcoin is $97,136, below its historical high of $109,000, analysts believe that future price trends could exhibit significant volatility.

According to RektCapital's analysis, Bitcoin's current price trend is forming a 'bull flag breakout' pattern, which lays the foundation for future price increases. Overall, although the current short-term price is low, a new round of increases may be on the horizon in the medium term.

In summary, the Bitcoin market is experiencing significant changes in technical and market signals, and the coming weeks may be a key moment for market turning points.