Analysis: BTC Rebounds but Faces Resistance at $95,000, with ETF Outflows and Rising Leverage Coexisting

Odaily News BTC price rebounded to $90,500 after testing the support level at $89,200, which aligns with the 50-day moving average. Jake Ostrovskis, Head of OTC Trading at Wintermute, stated that the market's failure to break through the key level of $95,000 has led to two-way trading, with ETF outflows dominating the past two trading sessions.

Additionally, derivatives positioning indicates growing market leverage. The total open interest for BTC futures and options has climbed to nearly 700,000 BTC, a three-week high, representing an increase of approximately 75,000 BTC since the beginning of the year. Meanwhile, perpetual futures funding rates remain positive at around 0.09%, indicating that long positions are paying fees to shorts to maintain exposure. Traders may be using leverage to buy the dip, which increases the risk of long liquidations. (CoinDesk)