Top traders’ net exposure and institutional investors' growing open interest in Bitcoin futures contracts show the market remains tilted toward bulls.
Bitcoin (BTC) has been in a fairly strong bullish trend since mid-March when the price rebounded from the massive crash which saw the price drop as low at $3,600 on some exchanges.
Regardless of whether one is tracking the price on a 3-hour chart or the weekly timeframe, the price has steadily steamrolled higher, culminating with a test of $12,100 on August 2.
Technically, there hasn't been a lower low ever since the 2-day 50% shakedown which saw the price testing the sub-$4,000 level.
Bitcoin USD 3-day chart.