Yello, ParadiseClub Members! 😎 Have you been following the latest movements in Bitcoin’s Open Interest? Let’s break it down:

💎Over the past two weeks, Open Interest has skyrocketed by approximately $6 billion, bringing the total to $28.3 billion—just shy of its all-time high of $31 billion reached on July 28th. This surge in leverage is largely driven by anticipation around the FED rate cut, signaling that institutions are confidently placing their bets on Bitcoin’s volatility in the weeks to come.

💎Investors are currently earning about $2 million a day for holding long positions in Bitcoin futures contracts. This indicates strong demand, as traders are willing to pay to keep their positions. While this funding rate isn’t excessive, it suggests that we could see sharp corrections soon, potentially shaking out those looking for quick profits.

💎According to our ParadiseTeam Professional traders, the market may rebound quickly after any corrections, especially as it clears out those big bettors. Here’s how: we’ve observed that short liquidations have surged by around $493 million recently. This is a promising sign—it opens the door for potential short squeezes following a sudden drop, which could help eliminate long positions and set the stage for a more significant upward rally.

Stay focused, patient, and disciplined Paradisers🥂

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