Yello, ParadiseClub Members! 😎 Do you know that Bitcoin’s open interest has been making new all-time highs for the last couple of weeks? Let’s break down the latest data:

💎Open Interest across both perpetual and fixed-term futures contracts has hit a jaw-dropping all-time high of $32.9B this week. This surge indicates a significant uptick in aggregate leverage flowing into the system. The bulls aggressively push the market to overcome the sell walls above but it hasn’t happened yet. While this setup could heat things up, it also means we need to stay alert—things can get a bit wild.

💎What’s the ParadiseTeam Professional Traders’ perspective? The rising open interest could shift market dynamics in the blink of an eye, potentially triggering a short-term pullback. However, for now, the Bitcoin market appears to be holding steady as the weekly market change remains at -1.11%. Bulls might push the price further if the Bitcoin market doesn’t encounter any negative news. However, short-term pullbacks are also not ruled out.

Stay focused, patient, and disciplined Paradisers🥂

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