Bitcoin Holds Firm as Binance Open Interest Craters—Is a Explosive Breakout Imminent?
Bitcoin's price refuses to buckle despite Binance's open interest taking a nosedive—classic crypto volatility at play.
Market Mechanics in Overdrive
While BTC trades sideways, derivatives markets flash warning signs. Binance's OI plunge hints at leveraged longs getting liquidated—or whales repositioning for the next big move.
The Calm Before the Storm?
Historically, these compression phases precede violent breakouts. With institutional inflows hitting new records and retail FOMO still in check, the setup smells like 2021's bull run—just with fewer meme coins (thankfully).
Wall Street's Favorite Casino
As traditional markets yawn through another quarter of 2% bond yields, crypto continues offering the only game in town where 20% daily swings count as 'normal.' Place your bets—the house always wins... until it doesn't.
TLDR
- Bitcoin price has remained steady above the $104,000 level despite global geopolitical tensions.
- CryptoQuant identified a divergence between Bitcoin price and Binance open interest, indicating a possible shift in market dynamics.
- Binance’s open interest has steadily declined while Bitcoin’s price has shown consistent support at the same level.
- Major long liquidations occurred near $104,000, suggesting a reset phase in the market.
- The reduction in leverage and closing of positions could signal a bullish setup forming.
Bitcoin’s (BTC) price maintained stability above $104,000 despite geopolitical unrest and shifting macroeconomic indicators. Recent CryptoQuant analysis highlights a divergence between Bitcoin’s price and Binance’s open interest. This development points toward a potential breakout as market positioning adjusts.
The asset recovered swiftly after a brief drop to $102,000 on June 13 during heightened Middle East tensions. It now trades NEAR $105,350, holding firm while open interest trends downward. This price-to-OI divergence signals reduced leverage and increased likelihood of directional movement.
Market data confirms strong support near $104,000, where Bitcoin price consistently resists selling pressure. Open interest on Binance, meanwhile, has fallen, showing traders have scaled down positions. This pattern suggests a potential reset in market structure, often preceding a rally.
Binance Open Interest Declines as Bitcoin Price Finds Strong Support
Binance open interest has recorded lower lows even as bitcoin price holds steady above the $104,000 level. The steady drop in open interest indicates reduced leverage and fewer speculative trades.
Data shows Bitcoin price forming consistent equal lows, which have absorbed significant selling pressure. This technical support level strengthens the argument for consolidation rather than breakdown. CryptoQuant identified major liquidation clusters near $104,000 during this phase.
The cluster triggered long liquidations, wiping out late buyers and significantly reducing open interest. Green delta spikes followed, confirming forced selling among Leveraged longs. Short positions remained mostly unaffected, implying the liquidation phase mainly hurt long-side exposure.
The resulting cleanup has reset trader positioning, possibly setting up the bitcoin price for a renewed upward trajectory. Such washouts often clear the market of weak hands, allowing a more stable base to form. The combination of strong support and reduced leverage is typically a bullish signal.
Analyst Outlook Suggests Bitcoin Price Could Be Nearing Breakout
Multiple analysts believe the current setup favors a bullish BTC price movement in the near term. Michaël van de Poppe noted the asset’s steady rise toward a critical resistance zone. He previously highlighted $106,500 as a key breakout trigger.
#Bitcoin trending back upwards, which is a great sign.
Facing the crucial resistance zone, through which we're about to hit a new ATH once we break through this resistance zone. pic.twitter.com/JHry4s001D
— Michaël van de Poppe (@CryptoMichNL) June 20, 2025
Bitcoin price could rally sharply if it breaks $108,924, historically a point of strong upward momentum. Clearing $110,000 may further fuel the rally, potentially leading toward a new all-time high. The price structure aligns with prior breakout patterns.
Market watcher BitBull observed Bitcoin completing a three-phase setup starting from January accumulation. He expects expansion to follow brief consolidation due to options expiry. He projects Bitcoin price reaching between $130,000 and $135,000.
$BTC Power-of-3 pattern formation 👀
➙ Accumulation happened during Jan/Feb 2025
➙ Manipulation happened during March/April 2025
➙ And now, BTC is in the expansion phase.
Options expiry is happening today, both in crypto and stocks.
So, I'm expecting a few more days of… pic.twitter.com/ykJyjewRVV
— BitBull (@AkaBull_) June 20, 2025
Veteran trader Merlijn noted one of the strongest selling deltas recently, hinting at a local bottom.
Oversold Warning on Bitcoin$BTC just printed one of the strongest short-term sell pressure deltas.
Historically, these flushes mark key reversal points.
Bears might want to lock in gains.
Relief may come fast pic.twitter.com/liUFEduJNn
— Merlijn The Trader (@MerlijnTrader) June 20, 2025
He believes bearish pressure is fading and short-term relief may follow. If confirmed, Bitcoin price could resume its upward trend with renewed momentum.
