Why Bitcoin’s 20% Price Rally Reads Bearish Underneath

Although Bitcoin recently experienced a 20% price rally, technical and on-chain indicators suggest the trend remains bearish. Analysis of derivative markets reveals a lack of long-position crowding, with rising open interest driven by short positions rather than spot demand. Furthermore, significant whale cohorts are actively distributing holdings during the price increase, while the daily Relative Strength Index (RSI) displays hidden bearish divergence. These factors suggest the current move is a counter-trend bounce rather than a structural reversal, with the rally's sustainability dependent on whether the price can decisively break past the $81,854 resistance level.

(Source：BeInCrypto)