Bitcoin Bulls Rebuild As Futures Metric Hits 4-Month High

Bitcoin’s derivatives market is showing signs of a

Bitcoin Bulls Rebuild As Futures Metric Hits 4-Month High

Bitcoin Bulls Rebuild As Futures Metric Hits 4-Month High

Bitcoin’s derivatives market is showing signs of a fresh bullish rebuild, according to a new morning brief from on-chain analyst Axel Adler Jr., who said a rising Bitcoin Positioning Index alongside a sharp increase in futures open interest points to new risk-taking rather than a short-covering bounce. For traders watching whether the recent recovery has structural backing, that distinction matters.

Bitcoin Positioning Index | Source: Axel Adler Jr
Bitcoin Open Interest 30-day change | Source: Axel Adler Jr
Bitcoin rises above the 20-week EMA, 1-week chart | Source: BTCUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

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