Bitcoin price traded near $113,000 on Monday after a weekend liquidation that wiped over $1 billion in leveraged longs. Derivatives and macro factors are central to the next move. Futures saw forced unwinds, with open interest decreasing. Options repriced the shock, with potential for a snap-back squeeze or a second flush scenario. Liquidity and participation on regulated venues like CME can indicate institutional activity. Seasonality suggests a potential recovery in October. The near-term tape will depend on funding, ETF flows, and gamma positioning. Traders should monitor these factors to anticipate market movements.

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