BTC After retesting our key support level at $80k–$81k we’re now seeing a decent relief bounce . This bounce came with a sharp decline in open interest, suggesting that a decent amount of positions were being closed, likely because shorts were taking profits after the violent selloff. At the same time, we’re seeing both Spot and Futures CVD increasing again, showing that buying interest is back for now. Price is now testing the recent breakdown level around $83k, so it’s going to be important that spot participation remains intact. If it does, we have a chance of reclaiming the lows and seeing a quick recovery back towards the highs. But if spot demand fades again, we will likely continue lower from here and retest the monthly FVG around $75k.