Astonishing! Bitcoin price is precarious, and the market may face a significant correction!

Joao Wedson, founder of Alphractal, warns that recent market trends for Bitcoin suggest that prices may decline. The Delta indicator for open interest contracts over the past 7 and 30 days shows signs of weakness, indicating a waning sentiment among leveraged market participants.

The Delta of open interest contracts reflects changes in positions in the futures market; when it is negative, it usually signals caution or capital outflow among market participants. Wedson points out that the bullish sentiment among traders has faded in the short term, and the long-term upward momentum is also diminishing. Without more institutional participation, Bitcoin may face a substantial correction.

Analysts warn: If whales do not actively enter the market, there may be another buying frenzy, leading to a price crash.