CoinGlass: Bitcoin Rebound Lacks Bullish Support, Currently May Still Be in Range-Bound Trading

MarsBitNews · 2026-03-20T09:35:53+00:00

CoinGlass announced that during Bitcoin's decline, open interest did not decrease but instead increased, indicating that short positions were adding to their holdings, and the price ultimately reached $68,750. The current rebound shows no significant bullish momentum and may be in a range-bound consolidation, requiring attention to changes in price and open interest.

MarsBitNews

2026-03-20 09:35:53

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Mars Finance reports that on March 20, CoinGlass stated, “During yesterday’s decline, Bitcoin’s open interest (OI) increased as the price fell, indicating that bears were significantly adding to their positions, forming a relatively clean shorting buildup. This move ultimately reached around $68,750. Currently, the price has rebounded, but OI has shown little change, which usually suggests that this rebound is not driven by new long positions. Therefore, it is more like a range-bound fluctuation rather than a clear trend reversal. Moving forward, it is important to monitor Bitcoin’s price and OI changes.”

BTC1.06%

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