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Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
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Bitcoin rose by almost 10% over the past week, marking a notable rally after recent bearish pressure. The cryptocurrency has reclaimed the $73,000 price zone for the first time since mid-March, offering a mild bullish undertone for many investors. However, derivatives traders appear less convinced, with short positions increasing during the same period.
Market analyst Amr Taha said Bitcoin’s gains were accompanied by a similar rise in leverage across major exchanges, suggesting increased futures activity. At the same time, other on-chain indicators point to bearish positioning dominating new market calls rather than sustained bullish conviction.
Data on BTC open interest change by exchange over a 7-day period shows a sharp increase in positions. On April 9, Binance recorded a $350 million increase in open interest, its highest level since March 20. Bybit added $299 million in new contracts, while OKX recorded $200 million in new contracts.
Additional data from BTC: Binance cumulative net taker volume versus open interest (24H) indicates that net taker volume did not rise to the same extent as open interest. Net taker volume reflects the difference between aggressive buying and aggressive selling in the futures market. In general, positive net taker volume implies more aggressive buying and stronger bullish pressure.
Amr Taha’s observations suggest that aggressive buying accounted for only a small portion of the open interest increase seen on April 9. This implies that much of the positioning may be driven by traders taking negative bets or using passive limit orders rather than aggressive market participation.
Despite the spot-led rebound, the futures market appears to lack strong bullish conviction. As a result, the durability of the upward move may depend more on genuine spot demand than on leveraged derivatives positioning.
At the time of writing, Bitcoin is valued at $72,837, up 0.34% over the last 24 hours. Daily trading volume rose 3.85% over the same period. Even with the weekly rally, Bitcoin remains in a bear market, trading 42.08% below the cycle high of $126,200 recorded in October 2025.

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