Bitcoin’s 10% weekly gain amid worrying US economic data shows crypto trader sentiment shift

Quick Summary:

However, Bitcoin’s open interest has surged by nearly 10% in the past 24 hours, suggesting that the price action following this spike could offer better directional bias in the coming days. Related: Bitcoiners’ ‘bullish impulse’ on recession may be premature: 10x ResearchBitcoin builds support at $79KAfter forming a new yearly low at $74,500 on April 7- April 9, BTC prices have rallied by almost 10% over the past three days.

Most recently, the LTH realized cap reached $18 billion on Sept.8, 2024, after which Bitcoin registered 100% returns over the next few months. Another key confluence that matches the current bottom setup with September 2024 is the significant drop in open interest.

The analyst said, “Got to admit, that's looking very enticing for BTC.”Bitcoin 1-day chart analysis by Cold Blooded Shiller.Source: X.comRelated: Bollinger Bands creator says Bitcoin forming 'classic' floor near $80KThis article does not contain investment advice or recommendations.

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Author / Journalist: Cointelegraph by Biraajmaan Tamuly

Category: Crypto

Markets: United States

Topics: Accumulation Price April September Bitcoin’s Realized Billion 2024 Rally Bottom Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-11 @ 19:30:00 (2 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 469 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27794485

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

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Publisher ID: #11

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