Bitcoin Clings to $75K as Bear Market Signals Resurface!

Bitcoin is holding above the $75,000 support level after being rejected at $78,000 on Tuesday, but remains below the $76,000 threshold that Bitmine Chairman Tom Lee says BTC must close above by month-end to confirm a new bull market. Ether mirrored the weakness, bouncing off $2,050 after a rejection at $2,150, and was recently trading around $2,080.

Derivatives data is flashing warning signs. Crypto futures volume surged 54% to $201 billion in 24 hours and liquidations jumped 87%, though much of that reflects a post-holiday reactivation. More telling: BTC open interest climbed from 704K to 740K BTC even as price fell — a combination that typically confirms a downtrend. Negative cumulative volume delta shows traders aggressively shorting via market orders.