Bitcoin is facing volatility and struggling to break above the $112,000 all-time high, with bullish momentum intact but resistance causing uncertainty.
Macroeconomic conditions, including a strong job market and passing of legislative bills, fuel speculation in the market.
A negative shift in the 90-day change in open interest signals potential capitulation among traders, leading to a reset for healthier price action.
Bitcoin remains range-bound below the key resistance at $109,300, with indicators suggesting a bullish structure but uncertainty about a breakout.