After CME, aggressive shorts pushed $BTC lower. Large open interest is now slowly unwinding, with solid spot buying supporting price. Negative funding + a Coinbase premium suggest this bounce isn’t just a mechanical short unwind but also spot demand is stepping in.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
After CME, aggressive shorts pushed $BTC lower. Large open interest is now slowly unwinding, with solid spot buying supporting price. Negative funding + a Coinbase premium suggest this bounce isn’t just a mechanical short unwind but also spot demand is stepping in.