Bitcoin has gradually been recovering with its price now hovering above $97,000 as of today—a noticeable increase from the $94,000 price mark seen earlier this week
This upward movement comes as analysts highlight significant trends in the perpetual futures markets that may indicate a substantial shift on the horizon.
Bitcoin’s Open Interest Points to Possible Market Shift
One notable development is the increase in Bitcoin’s open interest—an indicator of the total number of outstanding perpetual futures contracts on centralized exchanges.
According to ShayanBTC, a CryptoQuant’s QuickTake platform contributor, Bitcoin’s open interest has been steadily rising despite recent market volatility.
Shayan pointed out that this growth signals heightened activity within perpetual markets, which could lead to a decisive breakout in Bitcoin’s price. However, the direction of this move remains unclear as additional data is needed for a more precise forecast. Shayan noted:
This increase suggests that more activity is flowing into the perpetual markets, and the dominant direction of these positions will ultimately determine Bitcoin’s next significant move. If this trend persists, the market will likely experience a major breakout in the mid-term. However, the direction of this move remains uncertain, as additional data is required to make an accurate prediction.
Deep Learning Projections Offer Mixed Signals
In a separate analysis, CryptoQuant’s analyst CryptoOnChain presented a data-driven projection of Bitcoin’s near-term price movements.
By employing on-chain metrics and a deep learning model known as the Wave Net algorithm, CryptoOnChain estimated that Bitcoin’s price may fluctuate between $93,000 and $110,000 over the coming month.
The chart below shows the prediction of Bitcoin’s price for the upcoming month using on-chain data and deep learning with the Wave Net algorithm. As observed, this prediction indicates a fluctuating pattern for the next month. #Bitcoin #BTC #CryptoTrading pic.twitter.com/4Ki8TYE8Ui
— CryptoOnchain (@CryptoOnchain) February 19, 2025
Meanwhile, Bitcoin is still trading below $100,000 with a current trading price of $97,136, at the time of writing. While this market price has managed to put BTC’s daily performance in green, on a broader scale, BTC is still somewhat bearish.
Over the past month, the asset has declined by 6.1% and its current trading price marks a 10.6% decrease away from its all-time high above $109,000 recorded last month.
According to a Crypto analyst known as RektCapital on X, Bitcoin price action so far is “performing the key technical steps to fully confirm the Bull Flag breakout to set itself up for trend continuation going forward.”
The Bitcoin post-breakout retest of the Monthly Bull Flag is successful thus far
Price is performing the key technical steps to fully confirm the Bull Flag breakout so as to set itself up for trend continuation going forward
~$96700 needs to hold$BTC #Crypto #Bitcoin https://t.co/HXEsC7kN3p pic.twitter.com/OM6VCiUt5b
— Rekt Capital (@rektcapital) February 20, 2025
Featured image created with DALL-E, Chart from TradingView
Samuel Edyme
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
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