Bitcoin Rallies 2.67%, Open Interest Drops 0.35% as Fear Persists
Bitcoin rallied 2.67% following $380 million of liquidations over 24 hours, while open interest dropped 0.35%, indicating fresh short positioning. The Crypto Fear & Greed Index remains at 'Extreme Fear' and analysts predict a $58,000–$76,000 trading range until Friday's options expiry.
1. Market Rally
Bitcoin led a broad cryptocurrency uptick, climbing 2.67% as Ethereum gained 3.53% to $1,915 and XRP rose 2.67% to $1.38. Dogecoin and Solana also advanced, while shares of Coinbase and Strategy Inc. closed up 1.12% and 0.73%, respectively.
2. Liquidations and Positioning
Nearly $380 million was liquidated in the past 24 hours, with short positions accounting for the majority of exits. Meanwhile, Bitcoin’s open interest fell 0.35%, a combination suggesting increased short entries rather than conviction-driven longs.
3. Sentiment Gauge
The Crypto Fear & Greed Index remains in the 'Extreme Fear' zone, reflecting cautious investor psychology despite the upswing. Prevailing risk-off attitudes stem from tariff uncertainty, geopolitical tensions, and volatility spillovers from tech and AI markets.
4. Analyst Predictions
Analysts foresee Bitcoin trading between $58,000 and $76,000 over the coming session, with key support near $64,500. Market participants are eyeing Friday's options expiry as a potential trigger for renewed volatility or directional momentum.