{"content":"Bitcoin’s Hidden Strength 💪 — Market May Be Stronger Than It Looks Over the previous two weeks, the world's largest cryptocurrency has failed to surpass $116,000 and test $106,000. Bitcoin consolidates around $110,000, but on-chain research implies an intriguing prospect despite recent market challenges. In a CryptoQuant QuickTake article, crypto research outfit XWIN Research Japan suggests that Bitcoin market consolidation may indicate asset-building momentum. The institution's optimistic hypothesis uses three key on-chain measures. First, XWIN Research Japan notes that futures market Open Interest has dropped sharply since September. Open interest is the number of unresolved futures or options contracts. A dramatic drop in open interest frequently indicates “leverage wipeouts,” as speculative holdings are driven out of the market. Market resets, which usually precede sustained price increases due to rising spot demand, have occurred when open interest and cryptocurrency prices fall together. The education and research organization also uses the Spent Output Profit Ratio (SOPR) statistic to determine if investors sell mostly for profit. The SOPR has stabilized around 1.0, indicating that most Bitcoin dealers trade at cost. This implies that traders are neither profitable nor losing. XWIN Research says this is a positive indicator that short-term holder supply has been absorbed by long-term holder demand, ending the capitulation phase. XWIN Research also believes liquidity may be building for the flagship cryptocurrency as developments unfold. The agency said that ERC-20 supply had hit a record $158.8 billion. The crypto research group estimates that $158 billion in ERC-20 might boost Bitcoin's price if market sentiment improves. #BTC #FOMCMeeting #MarketPullback #CryptoMarket4T #WriteToEarnUpgrade $BTC $BNB $XRP ","images":["https://d35imkjvkj28kt.cloudfront.net/uploadfile/article/blog/2025112025/11/03/0279de35a15149afaaf58b85e8ef92f3.png"],"tags":[],"tradingPairs":["XRP/USDT"],"quotearticleid":0}