With more than 10 billion dollars of open interest that was eliminated in just two months, the Bitcoin scene has seen a great restart, and analysts expect that the main encryption price will be regained soon.
The sudden change pushed discussions on the future prices for the encrypted currency. While some market experts believe this is an opportunity for a new start, others warn that there is still a heavy degree of uncertainty.
Bitcoin is open attention to the bottom
Reports indicate that Bitcoin’s open interest reached 33 billion dollars on January 17. However, by early March, more than $ 10 billion has been eliminated. This massive liquidation wave was fueled by various factors, including widespread political noise and the wider market conditions.
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On January 17, Bitcoin’s open interest has reached the highest level of more than $ 33 billion, indicating that the financial lever in the market was not these highlands.
After the last panic resulting from the political instability associated with … pic.twitter.com/kplq6shx3
– Darkfost (Darkfost_COC) March 16, 2025
This number shows that the open interest of bitcoin contracts for 90 days decreased by 14 % from February 20 to 4 March. As a result of the forced clouds of many merchants, the market had to change the gears. Others are concerned that more fluctuations may come after that, while others see it as a positive modification.
Merchants monitor stability marks
Traders are now looking for stability because open attention has decreased significantly. Some people claim that the market is now more suitable for long -term expansion. Others remain cautious, and see that more market fluctuations can come before Bitcoin put a strong basis.
Caution required
The Into The Cryptoverse, Benjamin Quinn, warns that the current bull cycle may be at risk if prices drop to less than $ 70,000. It is suggested that it be an approach at $ 60,000, as a warning that the emerging market has finished its end, which leads to comparisons with the 2017 cycle. On the other hand, maintaining prices more than $ 70,000 – $ 73,000 would protect the market structure.
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Currently, Bitcoin resides about $ 82,900. Queen says that low macro height may occur later this year if the price decreases to less than the main support levels. This means that the image of the market is more designed by the Q3. If the previous trends are accurate, this stage of monotheism may lead to another significant rise in the next few months.
Optimism in the air
Meanwhile, bitcoin diagnosis is still optimistic. According to Josh Mandel, a famous analyst and a millionaire who has more than 79,000 followers on X, if the bitcoin price is closed above 84,000 dollars at the end of the month, it may reach $ 100,000.
Bitcoin price is still uncertain
The last references highlight the rapid change of things, and the bitcoin market witnessed sharp fluctuations in prices in the past. While some investors believe this represents an opportunity to obtain assets at reduced prices, others prefer to see how the market responds.
Currently, everything is a mixture of uncertainty and optimism-having waiting and seeing. As they can happen, anything can happen in Cryptoverse.
Distinctive image from Gemini Imagen, the tradingvief chart
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