This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
Bitcoin (BTC) surged past $87,000, sparking optimism for a sustained rally. Analysts highlight bullish indicators, including declining exchange inflows and rising open interest, suggesting reduced sell pressure and growing trader confidence.
- BTC exchange inflows have plummeted since November 2024, suggesting holders are retaining their coins and reducing sell pressure.
- Bitcoin's open interest surged by $6 billion in two weeks, with positive funding rates indicating dominant long positions.
- BTC broke out of a falling wedge pattern, a bullish reversal signal, while RSI nears 60, hinting at renewed buying momentum.
📎 Related coverage from: newsbtc.com
Related Tags: Bitcoin