- Bitcoin climbs to $88,585 with a 1.11% daily gain, nearing the $90,000 threshold.
- Derivatives market sees $6 billion rise in open interest, signaling bullish trader sentiment.
- Exchange inflows drop while funding rates rise, indicating reduced selling and increased long positions.
Bitcoin’s recent performance has turned heads again as it climbs steadily toward a major psychological barrier. After retreating during a correction, the largest cryptocurrency has bounced back to $88,585, marking a 1.11% gain in the last 24 hours. This movement hints that the tide may be shifting in favor of the bulls.
Signs of recovery continue to grow, with some analysts beginning to eye technical and behavioral trends. These show increased interest and optimism, especially in the short term. Bitcoin’s climb above $88,000 suggests it may soon test the $90,000 mark — a level many consider psychologically important for market momentum.
The buzz isn’t just about price. Behind the scenes, market dynamics are showing firm activity. A report by CryptoQuant contributor EgyHash points to a massive $6 billion growth in open interest in the derivatives market over the last two weeks. This rise is seen as a signal that more traders are betting on Bitcoin’s upward movement.
Bitcoin Traders Show Confidence, Selling Slows
Open interest is a key indicator that tracks how much value is held in futures contracts. More money flowing into these contracts often means rising confidence or more participation from traders. Alongside this, funding rates have increased, which generally reflects that many are taking long positions expecting further price increases.
In addition, Exchange inflows, or the amount of Bitcoin moving to centralized trading platforms, have dropped during the same time. Fewer deposits often suggest investors are not planning to sell. That has been taken as a sign of easing sell pressure, supporting the idea that prices might hold or rise further.
As a result, these on-chain indicators suggest the market could maintain its current trajectory, provided external factors remain supportive.
Historical Comparisons Fuel Bullish Sentiment
Another analysis comes from CryptoQuant’s BilalHuseynov. Looking deeper into historical price behavior, the analyst compared the current cycle with that of 2018. That year marked the end of a major downtrend, and the current structure appears to echo those earlier movements.
According to Bilal Huseynov, “after months in the red zone, the market broke through and entered a bullish period” in 2018. A comparable shift seems to be unfolding in 2025, as “Bitcoin exits bear territory and approaches a key threshold again.”
His view ties this year’s action to prior turning points in Bitcoin’s history. While he notes that broader economic trends and investor mood still have power to sway the market, the current rhythm suggests a pivot could be underway. In the past, similar conditions preceded major bullish shifts.
Amid improving sentiment, current signals suggest a possible upward move—provided conditions remain stable. From rising futures activity to reduced exchange inflows and familiar historical patterns, each factor supports the idea of a market steadily gaining momentum.
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