In accordance with Coinotag, Bitcoin futures saw a $1.25 billion outflow, reducing open interest to $80.8 billion. Analysts describe the drawdown as a healthy market reset that purged excessive leverage and normalized liquidations. The move is seen as reducing short-term risk and potentially supporting a move toward $120,000 if the Federal Reserve signals dovish sentiment. Key support is cited at $110,000. Market participants including Coinglass, Deribit, and Bitfinex noted the cooldown as constructive, with upcoming PCE data and Fed commentary expected to influence BTC direction.
Bitcoin Futures $1.25B Outflow Seen as Healthy Reset; Analysts Eye $120K Target
KuCoin NewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.