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Recent data suggests that risk appetite for Bitcoin has increased, with a significant increase in the use of leverage and an increase in traders opening new positions.
Where Register The Bitcoin Position Index rose to 40.1, and the 30-day moving average rose to its highest level in four months.
Meanwhile, open interest increased by 14.5% over the same period, reflecting new liquidity entering the market rather than just the liquidation of previous positions.
Together, these indicators suggest that the market is shifting toward a risk-on pattern as traders increasingly rely on leveraged positions.
The continued upward trend of the moving average also reflects the relative stability of position building rather than short-term fluctuations.
It is worth noting that this wave of momentum is different from previous short-term upward trends without actual support from public contracts, and the current situation indicates a comprehensive trend supported by actual flow.
However, analysts warned that the trend could weaken if open interest falls or the index reverses trend, which could signal the beginning of a reduction in positions and downward momentum.
Meanwhile, Bitcoin prices rose to their highest level in about 11 weeks, over $78,000, reflecting the current market momentum.
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