BTC price hits $27.4K as Bitcoin open interest matches Grayscale peak


18 Sep 2023 12:51 PM

Bitcoin faces mushrooming open interest as BTC price hits new September highs above $27,000....

  • Bitcoin (BTC) reached new month-to-date highs on September 18, with over 3% price gains.
  • The Wall Street trading session started on a bullish note, with Bitcoin breaking $27,000 for the first time in September.
  • Market participants observed the return of momentum among Bitcoin bulls.
  • Resistance levels are being monitored for a potential reclaim.
  • Daily buy signals were detected on proprietary trading instruments.
  • Open interest in Bitcoin futures contracts has increased.
  • Bulls are urged to regain higher levels and maintain them into the September monthly close.
  • The focus shifted to the upcoming Federal Reserve's decision on interest rates.
  • The U.S. dollar index (DXY) remained strong, while Bitcoin showed no signs of weakness.

The article highlights positive developments for Bitcoin, such as reaching new highs and the return of momentum among bulls. However, it also mentions caution regarding resistance levels and the need for bulls to maintain higher levels.

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