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$BTC - On-Chain Data Update:
The price is grinding higher, while the open-interest is going down, which suggests only one thing: Shorts getting flushed.
This is a clear sign of how the market sentiment is currently looking like.
People are trying to bet on a breakdown, while market makers have protected the range highs for the past few weeks, slowly building up the liquidity for the next breakout higher.
I think we might be close.