Bitcoin Bulls Aim for $100K Again… But Here’s the Catch 😬

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  • Bitcoin‘s feeling bullish, with Futures and Options Open Interest peaking like it’s the weekend!
  • Can BTC actually hit $100,000 again? Spoiler alert: it’s complicated.

So, here’s the deal: over the last 24 hours, Bitcoin [BTC] went full speed ahead and surged 6.33% to hit a one-month high of $93,756 (for now… let’s not jinx it).

And the crowd? They’re loving it. Put/Call Open Interest? A cool 0.59. But who cares, right? It’s just a fancy number that makes us feel smart when we throw it out at parties. 😏

What does this mean? Oh, just that there are 1.7 calls for every 1 put contract. Translation? $19.3 billion in Call Open Interest. A solid $11.5 billion in put open interest. Looks like the bulls are in charge for now.

To put it plainly: traders are all “Yessss, let’s go!” while the bears are probably just lying in a hammock sipping their coffee, feeling defeated.

And then there’s this: options interest jumped from $28.5 billion to $30.7 billion in just one day. A $2.2 billion increase. That’s the kind of party no one wants to miss. Oh, and Futures Open Interest? It’s now sitting at $38.6 billion, up $2.4 billion in less than 36 hours. Clearly, the mood is… optimistic? Or reckless? Who knows?

But wait, the real question is—will this uptrend keep going, or will it crash harder than that one time you tried to make banana bread?

So, Is Bitcoin’s Current Uptrend a Fluke?

Even with Bitcoin’s heroic rise, Binance investors are keeping their eyes open. Why? Because Binance Funding Rates have turned negative, sitting at -0.006. Yes, negative. But don’t freak out just yet—this might just mean a massive rally is coming (fingers crossed). 🤞

This little Funding Rate dip has only happened twice before: October 16, 2023 (BTC went from $28K to $73K), and September 9, 2024 (BTC soared from $57K to $108K). So… history, baby. Let’s hope it’s not a coincidence.

What’s going on? Basically, when Funding Rates drop, shorts start panicking. They rush to close their positions as prices rise, pushing even more buying pressure. It’s like a good old-fashioned short squeeze, and those are the things we dream about. 📈

According to the geniuses over at AMBCrypto, this rally’s looking solid. Why? Because there’s a ton of demand. Don’t believe me? Just look at the Exchange Netflow.

Exchange outflows are outpacing inflows. The market’s a one-way street, and it’s definitely headed towards the bulls.

And guess what? Short-term holders (STHs) are finally back in profit! Their realized price is $91K, while Bitcoin’s happily trading above $93K. The Short-Term Holder SOPR? It’s over 1, which is like a green flag in the market. Panic sell-off? Not likely—unless they’ve been watching too many “How to Lose Everything in 24 Hours” YouTube videos.

If all goes according to plan (and we all know how that goes), BTC might hit $96K, and then… the big $100K could be in reach. 🚀

But hey, if the STHs decide to sell like it’s Black Friday, we could see a dip down to $87K. So, grab your popcorn and stay tuned. It’s going to be a bumpy ride.

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2025-04-23 14:18