Source: CryptoQuant
Supporting the narrative is BTC open interest, which is up 5.79% in the past 24h, reaching $54.84B at the time of writing, while short liquidations outperformed longs at $90.10 million over the same period.
Conditions for the next bull market
JPMorgan now calls a “buy the dip” opportunity, saying oversold signals support a V-shaped recovery despite geopolitical unrest. Meanwhile, Strategy continues to buy in relentlessly, now holding 3.7% of all Bitcoin that will ever exist.
Beyond the prompt resolution of the US-Iran conflict, Bitcoin reclaiming its 2021 ($69K) and 2024 ($106K) all-time highs would also generate considerable upside momentum.
Markets now wait patiently to see how the conflict evolves and to gauge subsequent investor reaction.
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