Bitcoin ‘liquidity zones swept’ but uptick in open interest hints at BTC recovery
Bitcoin’s sharp sell-off caught many traders off-guard, intensifying the rate of long liquidations, but data shows bulls stepping in to buy the dip.
Key points:
Profit-taking near Bitcoin’s range highs aligns with traders’ previous reaction to new all-time highs.
Dip-buying near key liquidation zones and consistent institutional investor demand suggest the sell-pressure won’t last long.