Why Bitcoin’s Bottom Is Playing Hard to Get! šŸ˜‚

by

Gather ā€˜round, folks, for a tale of wager and woe spun by none other than Justin Spittler, the chief trader at that illustrious financial oracle, RiskHedge. This gentleman is mighty sure that Bitcoinā€”a rascal if there ever was oneā€”ain’t quite hit rock bottom yet. Ain’t that just a peach? šŸ‘

Earlier on this fine Friday morn, this hearty cryptocurrency took a tumble, landing at an intraday low of $114,518 before hoisting itself back up by its bootstraps. But donā€™t pop the champagne just yet; itā€™s still clinging to the lowly perch of $115,692. A true underdog story, if I ever saw one! šŸ„‚

Why, this hefty correction comes on the heels of Bitcoinā€™s recent scandalous affair with a record high of $118,972 on July 14. High drama, I tell you! šŸŽ­

Spittler, with all the conviction of a preacher on Sunday morning, is warning those bullish beasts that they ought to brace themselves for “a bit more pain.” Why, that sounds downright delightful! šŸ˜¬

This astute chart-watcher doesnā€™t shut the door on Bitcoin testing the waters around the $113,000 leveling, but don’t be surprised if it tiptoes a tad lowerā€”such is the nature of this fickle friend! šŸŽ¢

A deep retracement? Well, bless your soul!

Despite the doom and gloom, Spittler is convinced that “a deep retracement” ain’t in the cards just yetā€”like a magician pulling a rabbit from a hat, it seems too soon after the fireworks of that breakout! šŸŽ†

//u.today/sites/default/files/inline-images/786867234234.png”/>

Bitcoin’s open interest: A curious affair! šŸ¤”

And whilst the Bitcoin saga unfolds, the open interestā€”the number of contracts clamoring for attentionā€”hits an eyebrow-raising high of $44.5 billion. Now that, my friends, is a number that could make even the most stoic trader faint! šŸŒŖļø

This surge in open interest often signals that an exciting ride might be on the horizon, as such spikes in OI tend to dance hand-in-hand with volatility. Hold on to your hats! šŸŽ©

Bitcoin’s Price Drops, Open Interest Hits New Highs

ā€œBitcoin’s open interest reached an all-time high as its price fell, reaching $44.5 billion. When open interest rises with a price decline, it means new trading positions are being opened.ā€ ā€“ By @ArabxChain

ā€” CryptoQuant.com (@cryptoquant_com) July 25, 2025

Read More

2025-07-25 18:14