BTC tại mức hỗ trợ 89.200 USD bật tăng trở lại, đòn bẩy phái sinh đạt mức cao nhất trong ba tuần

【Coin Market】Bitcoin rebounded to the 90,500 USD range after finding support at the 89,200 USD key support level today, which coincides exactly with the 50-day moving average level. According to the market trading desk’s analysis, the market has been repeatedly blocked at the 95,000 USD level without achieving an effective breakout, leading to a two-way fluctuation pattern in recent times. The market over the past two trading days has been mainly dominated by massive ETF outflows, with short sentiment intensifying.

What deserves more attention is the leverage changes in the derivatives market. The total open interest in BTC futures and options has surged to nearly 700,000 BTC, reaching a new high in the past three weeks, an increase of approximately 75,000 BTC compared to the beginning of the year. This indicates that market participants are gradually increasing their leverage exposure.

The funding rate of perpetual futures maintains a positive level of around 0.09%, indicating that long holders need to pay fees to short holders to maintain their positions. Under this fee environment, traders may be adding leverage to buy the dips, but this also means that long positions face greater liquidation risk. Once the price breaks below key support levels, it could trigger cascading liquidations.