Bitcoin is once again approaching the $112,000 mark, marking a gradual recovery from recent lows. With increasing open interest in futures, there is a growing sense of confidence among market participants.
Increase in Open Interest on Futures
Currently, Bitcoin is trading around $109,000, with open interest on futures increasing by 7% over the past 30 days. This could signal a price surge, particularly when paired with positive funding rates and strong volumes.
Macroeconomic Situation and Fed Policy
Analysts are expecting potential stealth rate cuts from the Federal Reserve, which could positively impact risk assets like Bitcoin and Ethereum. Anticipations of easier monetary policy may attract additional capital.
BTC and Altcoins: Scenarios for Potential Changes
The $112,000 level remains a significant resistance point for Bitcoin. Breaking through this level could lead to a notable rotation into altcoins, as historically large movements in Bitcoin have created liquidity in smaller assets.
The current state of the Bitcoin market and the expectation of altcoin growth provides an intriguing dynamic. Monitoring key levels and macroeconomic policy becomes critically important for market participants.
