According to glassnode, key off-chain indicators for Bitcoin currently show mixed trading signals. The Relative Strength Index (RSI) fell sharply to 51.7, signaling a loss of market momentum. Meanwhile, spot Cumulative Volume Delta (CVD) has improved, suggesting increased dip-buying activity. Futures open interest remains elevated at $45.6 billion, indicating sustained speculative positioning. Notably, ETF flows have declined by 80%, reflecting increased caution from traditional finance participants. These factors highlight contradictory trends that traders should watch closely for upcoming BTC price action (source: glassnode).

According to @rovercrc, open interest in Bitcoin (BTC) perpetual futures experienced its largest single-day increase in four months, surging nearly 10% to $26.91 billion as BTC's price approached $110,000. Data from Velo shows this uptick coincided with a 3.5% price increase, which was reportedly fueled by a weak U.S. ADP jobs report, a new trade deal, and the launch of the REX-Osprey Solana + Staking ETF (SSK). This bullish sentiment is further confirmed by rising perpetual funding rates for BTC and ETH and over $300 million in liquidations, primarily of short positions, according to Coinglass. Separately, NYDIG Research noted that despite reaching new all-time highs, Bitcoin's volatility has trended lower. NYDIG suggests this low-volatility environment makes options trading strategies, such as buying calls for upside or puts for protection, "relatively inexpensive," presenting a cost-effective opportunity for traders to position for upcoming market-moving catalysts.

According to Milk Road (@MilkRoadDaily), crypto bulls are showing signs of fatigue, indicating a slowdown in upward momentum for major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). This observation is supported by recent trading volume data and declining open interest in BTC and ETH futures, signaling cautious sentiment among traders (source: Milk Road Twitter, June 19, 2025). Traders are advised to watch for potential short-term corrections and reduced volatility, as these signals often precede periods of consolidation in the crypto market.

According to CryptoQuant, Bitcoin options open interest surged by $2.2 billion in 24 hours, reaching $30.7 billion on April 22. This notable increase aligns with the rise in Bitcoin's price and futures open interest, indicating heightened market activity and potential bullish sentiment. Traders should monitor these metrics for signals of market trends and potential trading opportunities.

According to glassnode, the Futures Open Interest across the memecoins sector has seen a noteworthy decline. Specifically, $DOGE's Futures Open Interest 7-day moving average has decreased by 58.45%, dropping from $3.58 billion on December 9, 2024, to $1.49 billion as of today. This indicates a substantial reduction in trading interest and potential market liquidity for $DOGE, which could impact short-term trading strategies.