Key takeaways:
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Bitcoin retained range-bound trading above $120,000 after an 8% leverage reset in futures.
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Spot demand and declining open interest point to renewed buyer confidence.
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The MVRV ratio signaled a potential 15% to 25% upside, targeting $140,000 to $150,000 by the end of Q4.
Bitcoin (BTC) continued to range trade between $120,000 and $125,000 after a sharp, but orderly, deleveraging across futures markets, suggesting that $120,000 could emerge as a key demand zone for traders in the…
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