Bitcoin Recovers to $119K But Key Indicators Show Mixed Signals

Bitcoin

Bitcoin Recovers to $119K But Key Indicators Show Mixed Signals

Bitcoin has begun to recover after a brief decline triggered by the latest US Consumer Price Index (CPI) data. On July 15, the asset dropped to a low of $116,000 in response to news that inflation rose to 2.7% in June, amid continued concerns over tariffs from the Trump administration.

As of this writing, Bitcoin is trading at $118,439, reflecting a 1.8% gain over the past 24 hours, which suggests that some investor confidence has returned to the market despite recent volatility.

This short-term rebound occurs amid increasing on-chain and market activity, which analysts are closely tracking. One such contributor, Trader Oasis, recently published an analysis on CryptoQuant outlining various indicators tied to Bitcoins current movement.

Bitcoin Open Interest, Price Divergence, and Institutional Signals

The analyst explored a range of technical and behavioral metrics, including open interest, Coinbase premium index, and funding rates, that are influencing BTCs recent price behavior and hinting at what may lie ahead.

Trader Oasis began by noting that Bitcoin‘s breach of the $107,000 resistance signaled the beginning of a potential distribution phase. He pointed out that a divergence between price and open interest acted as a preliminary bullish signal, preceding the asset’s climb.

The current state, where both price and open interest are rising in tandem, is seen by some as a sign of strengthening momentum in the market.

He also evaluated data from the Coinbase Premium Index, which remains above zero, typically seen as an indication of institutional demand. However, Oasis observed that the indicators flat behavior, even as price rises, could imply large entities are securing profits.

Featured image created with DALL-E, Chart from TradingView