Quote from: Relonage on Today at 02:39:34 AM

According to data from the Coinglass platform, the current open positions in Bitcoin futures contracts have reached $17.582 billion. CME holds the largest share at $4.769 billion, followed by Binance at $4.151 billion, and Bybit at $3.199 billion. The substantial open interest across these platforms suggests significant market activity. So will Bitcoin rebound this week?

Bitcoin price can be unpredictable because it can be influenced by many economic factors. And most of these economic factors are also very difficult to predict. I never expected the price of Bitcoin to drop to this extent after the approval of the Spot Bitcoin ETF by the SEC. I was expecting the price to move to at least $50k but the reverse is the case now. I think the price will not recover this week and I also suspect that the price might keep depreciating until after the Bitcoin halving. As I earlier stated the price is unpredictable so a positive global economic outlook might make the price appreciate.