Bitcoin back above $79,000: open interest rises to $53.82B, spot demand lags
- —BTC rebounded from $76,347 to $79,337 on Coinbase, up about 3%
- —Open interest rose 4.26% in 24 hours to $53.82 billion
- —$100.47 million in shorts liquidated in 4 hours versus $9.48 million in longs
- —Spot demand per CryptoQuant remains in negative territory
Why it matters: The rally is driven by leverage without spot confirmation — a break above $80,000 or a rejection will determine the next direction.
Source: Crypto News Flash