Bitcoin: Open Interest Collapses to 12%

Bitcoin open interest has collapsed to 12%, prompting traders to question if the short squeeze has run its course.

Price sits at $77927.04 inside the Bollinger bands with upper resistance at $80444.38. The structure remains bullish above the EMA50 at $74406.79 and EMA200 at $68012.35, yet the MACD death cross at 1411.6 and RSI at 54.99 point to a likely test of lower band support at $75773.31 before any fresh move higher in BTC price prediction models.