BTC’s Strength at the $75,600 Support and Preparation for the $80,000 Push
Bitcoin successfully held the critical $75,600 support and climbed to $77,700, recording a 1.8% daily gain. This level, which functioned as upper resistance during the weekly rally, has now become a solid base. Investors are evaluating the sustainability of this base by reviewing BTC detailed analysis. Technically, the $75,600 level aligns with the 61.8% Fibonacci retracement; the buying pressure from here, with RSI remaining neutral in the 55-60 band, signals a push toward $80,000.
BTC OI Decline in Derivatives Markets: De-Risking Signals
Open interest (OI) in derivatives markets fell to 715.60K BTC, reinforcing the de-risking trend. This decline reflects the liquidation of leveraged positions and risk-averse strategies. During the past week when the spot rally slowed, the OI decrease played a supportive role. Experts track this data via BTC futures and note that market liquidity has increased.
| Market | OI Change | Current OI |
|---|---|---|
| BTC Derivatives | Decline | 715.60K BTC |
| DOGE Futures | +%18 | 16.06B tokens |
18% OI Surge in DOGE Futures
OI in DOGE futures rose 18% in a single day to 16.06 billion tokens. This speculative appetite reflects the swelling risk desire in the market ahead of tech stocks’ earnings reports. Memecoin momentum is propelling DOGE to the forefront, while short-term leverage increases could trigger volatility.
SHIB, PEPE, and FLOKI Rise in the Memecoin Sector
Strong inflows were observed in memecoins led by DOGE and SHIB; PEPE and FLOKI stood out in the CD100 index. This accumulation signals the typical ‘froth’ formation before broader market corrections. Against ETH’s weak signals at $2,344 (lower highs since mid-April), memecoins are shining as alternative risk assets.
- SHIB: Volume increase +12%
- PEPE: +5% in CD100
- FLOKI: Speculative inflows
Tech Stock Reports and Crypto Risk Appetite
US investors await Wednesday reports from Alphabet, Microsoft, Amazon, and Meta, while Nasdaq 100 futures rose 0.25%. This positive sentiment will shape the crypto market’s risk appetite. On Binance, oil futures OI surged 27%, while prices above $100 are pressuring risk assets.
Put Dominance in Options Market and Volatility Decline
In options, put demand for BTC and ETH exceeds calls; volatility indices are testing three-month lows. This reflects a search for protection while indicating a mix of speculative positioning. The market will find direction from tech earnings.
Source: https://en.coinotag.com/btc-climbed-to-77700-with-75600-support-80k-signal
