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Bitcoin: "liquidity zones swept", but the increase in open interest hints at a BTC recovery
The sharp drop in Bitcoin caught many traders by surprise, intensifying the liquidation rate of long positions, but several data points show that bulls are stepping in to buy the dip.
Profit-taking near Bitcoin's range highs aligns with traders' previous reactions to new all-time highs.
Buying on dips near key liquidation zones and the consistent demand from institutional investors suggest that selling pressure won't last long.
