Analyst: “There Are Two Possibilities in Bitcoin”

According to CryptoQuant analyst Satoshi, there are still very few investors in the market, as demonstrated by the open interest (OI). Therefore, in the current situation, the number of investors trying to profit from BTC against other parities is not enough. The analyst compared the current OI to 2021 levels and concluded that the funding rate was positive regardless, although the rate did not rise as extreme as the year mentioned above. Therefore, according to the analyst, it could be a continuation of the bull trend. The analyst made the following statements in his statements on the subject:

“Financing rates are positive, but not as extreme as we saw in 2021. It looks healthy to me as a continuation of this trend. It also doesn’t mean we won’t see a pullback to account for people making profits and punish late bulls.”

Regarding the spot market, however, analysts agree that withdrawals are minimal. Disclosure of this position may mean that investors are not reaching their target earnings. Also, an uptrend in the market can mean a trend towards positivity. However, it is stated that the second scenario is likely to occur. The reason for this is especially the Bitcoin fear and greed index. As of January 16, the index rose to 52, reaching its highest point in the last nine months. However, while it was still at a neutral level, it experienced a small rise at the time of writing.

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