Liquidity Sweep Cause Bitcoin Drop; Open Interest Dey Rise
Bitcoin experience wetin be like 6.7% correction from im record high of $124,474 as traders and short-term holders begin to take profit and dem sweep key liquidity zones under $115,000 for weekend market wey no too get plenty action. According to Hyblock man Shubh Varma, these liquidity grabs trigger long liquidation level, and big Ethereum unstaking events come add plenty supply join. Even though weekend sell pressure dey, institutional demand from digital asset treasury strong during weekdays, e help quick recovery. Big increase for open interest near $115,000 level show say strong support dey, as both longs and shorts open position for there. This rise for open interest and buying when price dip show say bull market fit still happen for Bitcoin and e get chance to rise soon.
Bullish
Di liquidity zone swep dem plus long liquidations wey follow during di thin weekend market provide beta beta buying opportunities, as strong dip-buying show. Institutional demand from digital asset treasuries during weekdays still support price dem wella. Important be say, open interest spike for di $115,000 support level, mean say both longs and shorts dey committed for dis price range. Historically, similar impulsive dips near new highs—when open interest dey increase—dem usual lead to quick recoveries and uptrend continuation. So, di current combination of liquidity sweeps, profit-taking, and growing open interest dey show say Bitcoin price fit bullish for short and medium term.