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Bitcoin Stalls Below $100K – Is Open Interest the Missing Link?

Bitcoin Stalls Below $100K – Is Open Interest the Missing Link?

CryptonewslandCryptonewsland2025/02/23 12:00
By:by Patrick Kariuki
  • Bitcoin struggles below $100K, with Open Interest shaping price action and trader sentiment.
  • Key resistance at $99K could determine whether BTC breaks out or faces another rejection.
  • Momentum depends on traders, with a breakout targeting $109K or a pullback to $90K.

Bitcoin—BTC , has been trading under the $100K mark recently. Now, traders are watching closely as Open Interest (OI) shapes price action in unexpected ways. A recent shift in OI activity has drawn more market participants, fueling speculation about the next big move. Resistance holds firm, but rising activity could signal a major turning point. Will buyers push past this barrier, or will another rejection send prices lower?

$100,000 is a huge psychological number, it's no surprise that many long-time Bitcoin holders viewed this as a good price to sell some sats and ball out.

There's not another level as important until BTC hits market cap parity with gold — which is roughly $1,000,000 per. https://t.co/PuGHUjYJvI

— Mitchell ✝️🇺🇸🚀 (@MitchellHODL) February 21, 2025

Open Interest Signals a Pivotal Shift

Recent market data shows a crucial OI pivot, aligning with Bitcoin finding support between $95,600 and $95,900. This change sparked renewed buying pressure , driving prices toward a fresh resistance zone. A push beyond $97,000 confirmed growing interest from both long and short positions, keeping momentum alive.

With $99,000 now in sight, a key test awaits. Strong support beneath $96K could provide a launchpad for a move toward $99,600-$99,900. The next steps depend on whether traders hold positions or take profits. A surge in selling pressure may reinforce resistance, but steady demand could power a breakthrough beyond the psychological $100K barrier.

Will Bitcoin Finally Break the Trendline?

Bitcoin faces a critical moment as price action nears a descending trendline that has already rejected three previous breakout attempts above $99K. Every rejection led to a pullback, forcing the market to test lower supports before attempting another rally.

A recent price surge from $93.5K to $98.4K pushed 1.7 million BTC holders back into profit. However, the trendline remains unbroken. A strong move past resistance could open the door for a run toward $109K and beyond. Failure to clear this barrier might lead to another retreat, with possible drops to $97,300 or even $90K, mirroring past corrections.

Momentum now hinges on trader confidence. Will bullish pressure finally overpower resistance, or will sellers regain control once again? The answer will shape the next major move in the Bitcoin market, determining whether new highs are within reach or if another downturn looms ahead.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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