According to Crypto Rover, a large Bitcoin whale has initiated a substantial $70 million short position, signaling a potential shift in market sentiment and raising the risk of increased volatility. Traders are closely monitoring liquidation levels, as such large positions can trigger rapid price movements if the short is squeezed, potentially leading to a cascade of short liquidations and a sharp upward spike in Bitcoin's price. This event has heightened attention on Bitcoin’s open interest and funding rates, with immediate implications for leverage and risk management strategies in the crypto derivatives market (source: Crypto Rover on X, May 7, 2025).

According to @BitcoinAnalysis, Bitcoin (BTC) surged above $97,000 yesterday and is now trading just below this level. Market data shows that BTC open interest (OI) has increased significantly, signaling heightened trader activity and leverage in the market (source: @BitcoinAnalysis). While some analysts anticipate a correction due to potential over-leverage, others expect a breakout above the key $100,000 resistance if buying momentum continues (source: @BitcoinAnalysis). Traders are closely monitoring support at $95,000 and resistance at $100,000, with increased OI indicating potential for higher volatility and sharp price moves in the near term (source: @BitcoinAnalysis).

According to Skew Δ on Twitter, Bitcoin ($BTC) demonstrated strong follow-through in price action today, underpinned by significant spot buying activity. Passive bids on Coinbase are pushing prices higher as buyers chase upward momentum, while taker bids on Binance spot are leading with aggressive market buying. Notably, algorithmic trading based on the monthly open in Binance perpetual futures has contributed to the move, with over 6,000 BTC in open interest added during this upward push. These factors suggest sustained bullish momentum and increased trading activity, signaling potential for further short-term price volatility (source: Skew Δ, Twitter, May 1, 2025).