Bitcoin Price Prediction: BTC Open Interest Drops as Bears Hold Control

• Bitcoin struggles under $69K, limiting recovery despite rebounding from $60K macro support.
• Derivatives open interest dropped sharply, signaling deleveraging and cautious market sentiment.
• Spot flows show sustained outflows, reinforcing distribution pressure and short-term weakness.

Bitcoin continues to trade under pressure after failing to hold gains near the $97,970 swing high, leaving the market in a fragile short-term structure. The 4-hour chart shows a decisive rejection at the top, followed by a deep retracement into the Fibonacci range. 

Although price rebounded from the $60,104 macro support, buyers have yet to reclaim key resistance. Consequently, momentum remains limited as BTC hovers around $66,900 to $67,000.

Resistance Levels Cap Recovery Attempts

Bitcoin currently trades below the 0.236 Fibonacci level at $69,040, which now acts as immediate res…

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