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via CoinDesk · By CoinDesk Staff

Bitcoin price analysis: BTC could have further room to fall, based on derivatives positioning

BTC

BTC/USDT

$62,148.25

-3.64%

$62,148.25

-3.64%

(24s)

24h Volume

$19,359,249,654.27

24h H/L

$64,659.43 / $61,938.00

Change: $2,721.43 (4.39%)

Long/Short

68.6%

Long: 68.6%Short: 31.4%

Funding Rate

+0.0016%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$62,380.01

▼ -2.56%

Volume (24h): -

Resistance Levels

Resistance 3$68,191.60

Resistance 2$64,616.38

Resistance 1$62,887.16

Price$62,380.01

Support 1$61,834.89

Support 2$60,554.20

Support 3$59,126.00

Pivot (PP):$62,864.46

Trend:Downtrend

RSI (14):36.5

CoinDesk Staff

(12:12 PM UTC)

1 min read

Verified byJames Mitchell

644 views

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Bitcoin derivatives markets flashing warning signs as price plunges below $70,000

Open interest has risen to 773,000 BTC, one of the highest readings on record, while funding rates remain elevated despite weak spot demand and growing market fear.

Bitcoin slipped below the psychologically important $70,000 level on Tuesday, trading around $69,300, as derivatives positioning reached some of the most…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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CoinDesk Staff · CoinDesk

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