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Bitcoin extended its upward move on Monday, trading close to the $90,000 mark after holding above the $88,000 level, with the BTC to PKR rate hovering near PKR 24.6 million, indicating sustained demand during Asian and European trading hours. However, caution remains as U.S. markets prepare to open, a period that has recently seen rallies lose momentum.
Recent market behavior shows Bitcoin often gaining strength during Asia and Europe sessions before facing selling pressure once U.S. traders enter the market. This pattern has made the American trading window a key test for whether current gains can hold or fade.
Derivatives data points to rising risk alongside the price increase. Bitcoin futures open interest rose steadily as BTC pushed higher, climbing toward $60 billion across major trading venues, according to CoinGlass. Platforms including Binance, CME, and Bybit recorded notable increases, signaling fresh leveraged positions entering the market.
Market watchers note that rising open interest with price does not automatically signal weakness, but it raises the stakes. If momentum continues, leverage could amplify gains. If price fails to hold above $90,000 during U.S. hours, crowded long positions may unwind quickly, leading to sharp pullbacks.
A sustained move above the level would mark a break from December’s repeated “sell-the-open” pattern, while another rejection could reinforce recent lower highs in Bitcoin’s price structure.
