The Bitcoin analyst sees the exhaustion of liquidation and open interest disappears, because BTC prices up to 106 thousand. USD

Key results:

Bitcoins prices by 6% below the highest all time, but several market signals suggest more mountains.
Bitcoin is ready for a breakthrough in the highest level if the key level of resistance for $ 108,000 is broken.

The price of Bitcoin (BTC) increased by 10% from June 5, reaching the next time at USD 110 800 on June 9.

Is Oi Divergence stubborn at the Bitcoins price?

Onchain data reveal a significant discrepancy between the Bitcoin and Binance price, open interest (OI), showing progressive deletion of derivative instruments on the market.

While the price of Bitcoins on May 27 was 1.3% of the highest all time, Binance Oi did not reach its previous peak at the end of May, according to Cryptoquant. Instead, there was a clear discrepancy with this metric recording of the lower low series, as shown in the chart below.

Bitcoin price and 24-hour change. Source: Cryptoquant

Similarly, Binance liquidation chart emphasizes the acute liquidation cluster of around USD 104,000, in which long positions were strongly closed when the price dropped below this level on June 13.

Related: Bitcoiners divided into 94 thousand USD or 114 thousand USD for the next BTC movement because it trades sideways

The market correction, caused by Israel’s attack on Iran, was observed over $ 453 billion in long Bitcoin from liquidation compared to $ 59.8 million low positions.

*Bitcoin: Data on the liquidation of Binance. Source: Cryptoquant*

According to the analyst Cryptoquant AMR Taha, this reflects “cleansing the lateral laterals”, which coincides with the FED decision to leave the interest rate unchanged.

“This macroeconomic signal often works as a wind on risk assets such as Bitcoin”, Amr Taha he said In Quicktake from June 19, adding:

“Historically, BTC showed stubborn trends after stabilizing the rate, especially in combination with signs of exhaustion of liquidation and disappearance of open interest.”

Another crucial observation is the position of the Bitcoin market value (MVRV) around its average.

“The short -term owner of Bitcoin MVRV returned to the average despite the price similar to the highest times”, he said Bitcoin analyst at Chain College in the post on June 20 on X, adding:

“The market has reset and looks prepared for the next move.”

*Bitcoin: low -term MVRV ratio. Source:* *Checkonchain*

What price of bitcoins?

The price of bitcoins remained on Thursday below USD 105,000, for data from Cointelegraph Markets Pro i TradingView.

“Bitcoin back up, which is a great sign,” said the founder of Mn Michael Van de Poppe in the post on June 20 on X.

The accompanying table showed a key resistance zone of USD 108,000, which BTC Bulls had to break to cause up to move.

“In the face of a key resistance zone, through which we intend to achieve a new level of all time when we pierce this resistance zone.”

*Four -hour BTC/USD chart. Source:* *Michael van de poppe*

According to Cointelegraph, it is expected that the price of BTC will leave its narrow range from 103,000 to USD 109.00 this month in traffic that would introduce him to discover prices.

Although several analysts believe that Bitcoin will exceed $ 120,000 this summer, the chances of it before July are only 16%, according to Polymarket data.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.