Bitcoin Surpasses $100,000 Mark Amid Greed Sentiment and Low Open Interest

On Wednesday, bitcoin (BTC) surpassed $100,000 briefly for the fourth time, with trader sentiment shifting from fear to greed as it fluctuates between $90,000 and $100,000.

Key points include:

Bitcoin may require multiple attempts to break through the $100,000 barrier.
Since reaching an all-time high of approximately $108,000 on December 17, bitcoin has shown a series of lower highs.
The $90,000 level remains a strong support since November 18, with only a brief dip below on January 13.
The upcoming inauguration of President-elect Donald Trump on January 20 could influence market direction.
Futures open interest (OI) is at its lowest since early November, dropping from 700,000 BTC ($68.4 billion) on December 19 to 621,000 BTC ($61.6 billion).
This indicates recent price movements are more influenced by spot trading rather than leverage.

Open interest should be analyzed in terms of bitcoin units for accuracy, avoiding fluctuations due to price changes.