BTC This looks much healthier than the previous bounce. Price has reacted strongly from a local support level, while open interest has started to decrease instead of continuing to rise. Looking at the liquidations, we can also see that a decent number of shorts got squeezed during the initial move higher. At the same time, spot buyers have been stepping in aggressively. This suggests that the rally isn't just being driven by shorts getting squeezed out of the market. Strong spot demand is supporting the move as well. As long as spot buyers stay active and open interest remains relatively stable, I think there is a decent chance that BTC continues pushing higher over the coming days. However, if spot demand starts fading again, there is a good chance that this move gets retraced over the coming days.(Max Trades)