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Bitcoin Sees Extended Extreme Fear as Open Interest Falls: 2X Rally Incoming?

  • Bitcoin's market sentiment has reached an extended Extreme Fear level amid price struggles and panic selling.
  • Open interest in Bitcoin has plummeted by 22% in the past ten days, indicating a decline in speculative interest.
  • However, previous instances of deep fear have been followed by significant price rallies.
  • Bitcoin's price may find support in the range of $69,000 to $76,500 as geopolitical concerns continue to impact risk assets.

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