Bitcoin fluctuates around $86,000 as gains narrow and bearish signals on derivatives increase

PANews, September 23: According to CoinDesk, Bitcoin fluctuated around $86,000 on Wednesday, following a breakthrough on Monday. Data shows that BTC is currently trading at approximately US$86,379, up 1.3% in 24 hours, and intraday trading volume fell by 36% to US$38 billion. The CoinDesk 100 index rose 0.67%, but 38 of the component assets have fallen within the day, indicating that the recent gains have significantly narrowed.

In terms of derivatives, the 24-hour trading volume of cryptocurrency futures fell by 21% to US$227 billion, open interest (OI) increased slightly by 1% to US$159.4 billion, and the proportion of active seller transactions rose to 51%; the Binance USDT margin lending rate rose to 5.49%, close to a multi-month high. BTC OI is basically unchanged at about 710,000 pieces. The ratio of long and short whale positions has declined, and the overall position is closer to reducing positions than turning to shorting. In the options market, open interest in call options with strike prices of $90,000, $95,000, and $100,000 is increasing, while $75,000 and below is considered a strong support area.