Cryptocurrency analysis company Alphractal drew attention to the cyclical behavior observed in the Bitcoin market in its latest assessment.
According to the company’s statement, the 30-day cumulative Open Interest Delta level has reached levels that were seen when Bitcoin tested new all-time highs in 2024, approaching $73,000.
Alphractal analysts note that a distinct cyclical pattern is emerging in the market: a two-phase structure (Phase 1 and Phase 2), in which the increase and decrease in Open Interest Delta alternate. Usually, a strong increase in positions with a positive Delta is followed by a negative correction of almost the same magnitude. This indicates a regularly recurring cycle in the market.
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The 180-day Delta data included in the company’s analysis provides more striking signals. According to Alphractal:
- Sudden declines in delta usually indicate mass liquidation of long positions opened with high leverage.
- When delta turns negative, it often indicates market bottoms or accumulation zones.
According to the latest data, the 180-day Delta is on the verge of turning negative. This suggests that there may be more volatility in the coming days, but it also indicates that a new consolidation phase may begin.
The report also noted that Open Interest volume did not increase as strongly as it did from October 2023 to early 2024 and then from October 2024 to early 2025. These annually recurring trends may indicate that investor risk appetite is moving in a fractal pattern.
*This is not investment advice.
