This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Bitcoin held steady near $38,000 as traders expressed optimism about its price. Despite a relatively flat weekend, the cryptocurrency showed signs of potential upside continuation. Traders noted that buyers were absorbing sell volumes near the local highs, and with low open interest on derivatives markets and steady spot demand, the stage could be set for a move higher. Some analysts even suggested that dips in the price may be shallower than expected due to the lack of open positions to induce liquidations. Additionally, the Ichimoku Cloud indicator signaled a promising outlook for Bitcoin, with key components displaying an uptrend. Overall, the momentum appeared to be up, with a potential target of $39.3k. As always, readers should conduct their own research and be aware of the risks involved in investing and trading.