Improving Bitcoin price metrics highlight bears’ dwindling confidence in sub-$95K BTC
Bitcoin’s open interest has dropped to a two-month low, indicating limited downside risk for BTC price.
Bitcoin (BTC) has struggled to maintain prices above $95,000 since Dec. 28, but demand for leveraged positions has been on the decline. During this period, bulls faced $470 million in liquidations, while bears showed reduced appetite, especially as Bitcoin tested levels below $92,000.
Measured by its open interest—the total number of contracts across all Bitcoin futures markets—the positions have dropped to their lowest level in two months. While bears have gained the upper hand in the short term, their diminished appetite suggests limited downside potential for Bitcoin’s price.
Bitcoin futures aggregate open interest, BTC. Source: CoinGlass
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Author: Marcel Pechman
