Med
The article suggests that bitcoin's price recovery is being driven by derivatives markets and that options open interest is at an all-time high, indicating growing investor interest. a break above $116,000 could trigger a liquidation squeeze, driving prices higher.
High
The analysis is based on reports from glassnode, cointelegraph markets pro, tradingview, and coinglass, which are reputable sources for crypto market data and analysis. the article also cites specific data points and indicators, such as volume delta bias and options open interest.
Bullish
The article suggests a potential rally to $120,000 if bitcoin stays above $113,000 and breaks through resistance levels between $116,000 and $121,000. the bullish bias in options positioning also supports this outlook.