Bitcoin Surges to Monthly High as Market Metrics Turn Positive
- Bitcoin (BTC) reached a monthly high of $79,472, marking its strongest return since April.
- The Bitcoin positioning index increased from -10.9 in February to a current average of 4.5.
- Open interest rose by 6.7% to reach a total of approximately 260,000 BTC over the last day.
- Key price levels include $81,000 as the first resistance and $88,000–$91,000 as a significant supply zone.
- A support zone is identified between $72,000 and $75,000 for mid-term holders.
The recent rally in Bitcoin’s price aligns with rising leverage use and new positions in the derivatives market, indicating increased investor interest and potential for further gains.
As Bitcoin approaches key levels like $81,000 and $88,000–$91,000, sustained movement through these ranges could signal strong demand among buyers (Source).
