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Glassnode: BTC's current rise differs from late June, traders leaning towards long positions

Summary: According to Glassnode analysis on X platform, after Bitcoin surged past $112,000, shorts were once again punished. However, this time BTC's rise seems different from the rebound in late June, as open interest (OI) sharply decreased back then, while in the latest rally, OI has increased, indicating traders are leaning towards long positions.

According to Glassnode analysis on X platform, after Bitcoin surged past $112,000, shorts were once again punished. However, this time BTC's rise seems different from the rebound in late June, as open interest (OI) sharply decreased back then, while in the latest rally, OI has increased, indicating traders are leaning towards long positions.

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