According to @52kskew, Bitcoin (BTC) is seeing the opening of new long positions, despite a simultaneous rolling long liquidation event. The source notes that a significant spot bid was pulled during the long fill, suggesting an attempt to quote the market higher using real volume. This move indicates the presence of a sizeable counter trader absorbing the sell flow, which could signal short-term volatility and trading opportunities for BTC. Traders should closely monitor order book activity and liquidity shifts for potential entry and exit points, as these dynamics can impact BTC price movement in the near term (source: @52kskew).

According to Skew Δ, the recent upward movement in Bitcoin's price on lower time frames (LTF) is primarily driven by rebalancing flows, with a significant influence from hedges being cut and long positions being opened. This activity has resulted in a perpetual bid in the market. However, for this upward trend to sustain, it would require a substantial spot bid. [Source: Skew Δ's Twitter Post]

According to Miles Deutscher, the current news-driven market is creating high volatility, making it challenging for retail investors who typically buy and hold altcoins. This environment is favorable for traders, but discourages retail investors, leading to a decrease in altcoin spot bids.