On July 31, approximately $700 million in fresh open interest was added to Bitcoin futures contracts across major exchanges while BTC was consolidating near its recent floor. This increase suggests traders are rebuilding leveraged long positions, betting that the current price level represents a floor rather than a continuation lower. Analysts note that this positioning creates conditions favorable for a relief rally, but also raises the risk of a liquidation cascade if support levels break. Derivatives markets often lead spot markets, and the support zones that held during the recent low constitute the key levels to watch.
Source: Read the original article
