Bitcoin market signals local bottom as key indicators suggest potential reversal

exchange68September 12, 2024

0 1 2 minutes read

“Bitcoin’s market is at an intriguing crossroads. Key metrics hint at a local bottom, suggesting a potential reversal from the recent bearish trend. Open interest is resetting, and the perpetual funding rate has remained negative for three consecutive days. Even the miner capitulation phase seems to have passed. Still, there’s one puzzle piece missing from this potential bottoming scenario… Are we really at the market bottom, or is there another twist awaiting investors? The answer lies in an often overlooked, yet crucial indicator…”

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