#MetaplanetBTCPurchase

Geopolitical tensions are shaking the crypto market again. An Israeli airstrike on Iran some time ago triggered a sharp correction in Bitcoin prices. In a short time, the price of BTC briefly plummeted to around US$103,000, before finally recovering to US$105,000.

The rapid and extreme price movement of Bitcoin has left many traders and investors wondering: is this just a temporary retracement, or is it the beginning of a deeper correction?

Binance Open Interest Correlation Becomes a Key Signal

One interesting indicator comes from Binance. Joao Wedson, an on-chain analyst and CEO of Alphractal, revealed in his analysis on Saturday (14/06) that the correlation between Open Interest (OI) on Binance and the current price of Bitcoin is sending a signal that warrants caution.

According to Wedson, this correlation is now approaching a very critical level and could be a sign that the crypto market and Bitcoin are preparing to enter a phase of high volatility.

“When the correlation drops significantly (≤ 0.1), it often indicates opposing behavior between price and Open Interest (OI). Historically, this condition often precedes a significant spike in volatility in Bitcoin prices,” he explained.