According to Skew Δ (@52kskew), Bitcoin (BTC) started the week with strong upward momentum, as price action heads toward key ask liquidity levels driven by passive spot buyers. In the perpetual futures market, risk-on long positions are scaling up in conjunction with this spot buying activity. Notably, a short squeeze has been observed around the $107,000 mark, forcing short positions to cover and further accelerating the upside move (Source: Skew Δ on Twitter, June 16, 2025). This dynamic suggests continued bullish sentiment and increased volatility, which traders should monitor for potential breakout opportunities and risk management.

According to Miles Deutscher, Bitcoin's open interest has surged by 7.2%, approximately $2.4 billion, within the past 24 hours. This increase is driven by leveraged long positions, which could lead to volatility on lower timeframes if spot buyers lose momentum.