@Gahirath
$BTC In the last few days, there has been
a feeling of wanting to fall but cannot,
if BTC drops below 94,000, it
will quickly be pulled back above 95,000.
This indicates that during this rise,
too many people were not participating,
and as soon as there is a slight decline,
a large number of people rush to buy the dip.
This is in stark contrast to the sideways movement of BTC
around 80,000 to 85,000 for 1-2
months without anyone paying attention. Most
people only believe when they see, while
very few dare to believe, and thus see.
The most direct indicator reflecting
this sentiment is the Fear and Greed Index,
which is at 60 today, indicating greed,
compared to 54 yesterday, which was
neutral. Additionally, there is open interest in contracts;
according to Coinglass data,
the total open positions for Bitcoin futures
across the network
amount to 669,900 BTC, approximately equivalent
to 63.7 billion USD, which is close to
the previous peak of around 100,000. Since a slight
increase is already near the peak, if there is
a larger trend in the future, breaking
the previous peak is almost certain.
