According to foreign media, bitcoin has recently risen by $75,000, continuing its previous rebound. According to the report, the BTC, which had previously collapsed by $60,000, has now risen to a high position since late May. Over the past four days, bitcoin has accumulated an increase of about 20 per cent, and nearly 24 hours have performed better than the Ether and Solana.
# Back to back #
This increase was accompanied by large-scale empty silos. Citing earlier data, the report states that, during the initial breakthrough, more than $3 billion in the market was liquidated, making it a more powerful empty space this year. As a result of the build-up, price upswings have increased markedly, and market sentiment has increased rapidly.
The Bitcoin Fear and Greed Index has now returned to the “Grealing” zone, with readings rising to 72. According to the report, although BTC prices are still about 40 per cent below historical highs, emotional indicators have clearly been repaired, indicating that short-line risk preferences are rising.
The outsider quoted the dealer's point of view
The report also cites the view of DonAlt, an anonymous trader, that bitcoin has recently reacted better near its anchor, and that the recent low point could be an important bottom area of the current cycle. In his view, $82,000 was the first position of resistance, and it was only in the vicinity of $95,000 that more visible resistance was possible.
However, this view does not consider the bottom to be fully confirmed. At the same time, it was mentioned that the market could not rule out the possibility of a “cow market trap”. It was also alleged by Weiss Crypto that Bitcoin had hit the line around the long-term downward trend nine days later and had broken the line upwards.
Overdue approaches, fluctuations or magnification
It was mentioned that the current round of breakthroughs coincided with the expiration of a larger set of options. Coinbase Markets states that the total amount of the nominal open contract between BTC and ETH that expired on Friday was approximately $2.01 billion, of which bitcoin was about $1.67 billion and the Taifeng was about $345 million.
Of these, the equivalent of bitcoin's maximum pain point price is about US$ 66,000 and the Ethera is about US$ 1960. When power concentration expires in the near future, the associated hold-up adjustment tends to increase short-line fluctuations, and the market is likely to continue to experience greater price swings.