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      Analysis: Bitcoin futures buying pressure hits highest since Aug. 19, open interest up nearly 9,000 BTC in 24 hours

      PANews, Oct. 2 — Crypto analyst @AxelAdlerJr said the Bitcoin futures market buying pressure indicator rose to 4.9, its highest since Aug. 19; contract open interest increased by nearly 9,000 BTC within 24 hours.

      The reading means buying pressure accumulated over the past 12 hours was nearly five standard deviations above the average of the past week. @AxelAdlerJr said that if Bitcoin's price stays above $85,000 even as upward momentum weakens, the rally could continue; if the price falls below $83,000, liquidation of newly opened long positions could accelerate the decline.


      Source: PANews
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