I've been cautious on Bitcoin over the past couple of weeks because that's what the data was telling me.



But markets evolve.

Bitcoin is now trading above $66,000, and open interest is continuing to build alongside price.

That's exactly what I'd expect to see if traders are starting to gain confidence in the breakout.

Add in five straight days of ETF inflows and a reclaim of the major resistance zone, and the short-term picture looks much healthier than it did a week ago.

I'm still watching leverage closely, but right now I think the bulls have the momentum.

$BTC
{spot}(BTCUSDT)
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