Looking at bitcoin:native through the lens of open interest, there are several important developments. During this latest move lower, open interest has increased, suggesting that leveraged traders are helping to push price below its recent levels. As Bitcoin wicked below the first white line at $82,800, funding became extremely negative. This suggests that significantly more shorts than longs are entering the market at these levels. At the same time, aggregated spot volume has spiked, indicating that people are stepping in to buy the dip. Does this mean the pullback is definitely over? No. This move can continue, and price can still fall further. However, it does tell us that many of the leveraged traders entering the market right now are positioned short. If we move to the four hour chart, we can also see that a significant amount of open interest has already been flushed from the system. Open interest measured in coins is now around the same level it was when Bitcoin traded at its recent lows. In my opinion, Bitcoin could begin forming a base around these levels, if that process has not already started. Leveraged longs are being washed out, while spot buyers appear to be absorbing the available supply. This is how support levels begin to form. If sellers continue pushing aggressively, price can obviously move lower. However, if Bitcoin begins to stabilise, many of the late shorts entering here could eventually be squeezed back towards the upside. That short squeeze could provide additional fuel for the next leg higher. If you want to buy your fav coins, I'd be doing it here

📈LIVE: The US 10Y yield continues to rise and is now up 48 bps this month to 5.23%, the HIGHEST since 2007. This puts September on pace for the BIGGEST monthly surge since April 2024. The US10Y is now only 5 bps away from the 2007 peak. If it breaks, the US10Y would be on track for its highest level since 2002.

Bessent says the US economy is booming Don't forget to vote to let them know that you're tired of winning

BULLISH: 🇺🇸U.S. Treasury Secretary says America is entering the “acceleration phase” of the economy. “We’ve got the American people back on their feet, and now I think we’re in the acceleration phase of this economy.”