Bitcoin Surpasses $87,000 with Bullish Signals Amid Short-Term Holder Losses

Bitcoin's price recently surpassed $87,000, marking a 3.3% increase in 24 hours, before slightly retreating to around $86,815. This recovery trend indicates potential upward movement as analysts monitor technical and on-chain data.

Key Insights

CryptoQuant reports a significant $6 billion rise in open interest across derivatives, reflecting increased market participation.
Open interest growth typically suggests confidence in price direction.
Exchange inflows have declined, indicating reduced selling pressure.
Short-Term Holders (STHs) remain at an unrealized loss, with an average acquisition price of approximately $91,000, forming a resistance level.
New investors who entered within the last month show a realized gain of 3.73%, indicating renewed market confidence.

Analysts warn that until Bitcoin closes above the $91,000 mark, latent sell pressure from STHs may persist, impacting future price movements.