The post Bitcoin at $94K – Predicting if long squeeze is next after Funding Rate turns positive appeared on BitcoinEthereumNews.com.

Bitcoin registered a hike in longs positions above $90k Cryptocurrency could see a long squeeze as demand soars while price momentum weakens on the charts Over the past week, the market saw Bitcoin [BTC] rally past $95k. This price pump resulted in a high appetite among investors as they now expect further gains. Needless to say, the demand for long positions has skyrocketed too. In fact, in the last 24 hours alone, Bitcoin’s Funding Rate turned positive again, with the longs being dominant above 90k. Source: Alphractal This means that most investors expect the uptrend to continue and possibly, hit the $100k-mark. However, the surge in demand for longs could become problematic as the price momentum weakens. We can see this uptick as Bitcoin’s Open interest increased by $1 billion in 24 hours, rising from $31 billion to $32 billion. Often, when Open Interest rises, it means more traders are entering the market to open new positions. In this case, they are long positions. While Open Interest and funding rates have risen lately, the crypto’s price has remained stuck around the $94k range for the past 2 days. Source: CryptoQuant Additionally, Bitcoin’s spot cumulative volume delta has held firm within negative territory. At the time of writing, the Spot CVD sat at -1094. When the CVD declines as the Open Interest rises, it means that buyers in the market are becoming weak. All while longs continue to increase. A drop in buying pressure leads to low demand, thus creating room for speculative investors to exit the market as they attempt to maximize profits. Source: Checkonchain When the market is set like this, a risk of a long squeeze emerges. According to Alphractal, the ongoing market conditions may be positioning Bitcoin to experience a long squeeze in the next few hours.…

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Filed under: News - @ April 28, 2025 11:19 pm