6 hours ago
7
Key Takeaways
- Net Pressure Tilt at -28 marks peak selling from recent buyers, a level that has historically clustered near local lows.
- BTC near $64K sits below the STH Realized Price around $75K, leaving short-term holders down roughly 15%.
- Open interest fell from over $90B to near $50B, clearing the cycle’s speculative overhang for cleaner price discovery.
- Funding back near 0.002% means excess long leverage has been purged, removing a common precondition for forced selling.
Three separate readings on Bitcoin’s derivatives and positioning structure are pointing the same way: recent buyers are under heavy stress, leverage has been largely flushed, and funding has reset to neutral. W...
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