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Bitcoin open interest rising ahead of White House Crypto Summit Bitcoin ( $BTC ) open interest (OI) is growing ahead of the upcoming White House Crypto Summit, which is scheduled for March 8, The Block reported. Buying pressure has been steadily increasing since BTC tested $82,000, with OI increasing and funding rates also rising, according to Gordon Grant, a cryptocurrency derivatives trader. Julio Moreno, a senior analyst at CryptoQuant, explained that the funding rate in the perpetual futures market is recovering across the board. Moreno speculated that this could be due to market participants’ expectations being raised by the upcoming Crypto Summit.

Dogecoin, a popular cryptocurrency that has often moved based on community sentiment and broader market trends, recently displayed a Dragonfly Doji on its daily candlestick chart, signaling potential changes in its market dynamics. This technical pattern is commonly interpreted by traders as an indication of a possible reversal, particularly after a sustained downtrend, as has been observed with Dogecoin. #Dogecoin daily candle closed with a Dragonfly Doji 🔥Since the doji in $Doge is at the bottom of a downtrend, this signal indicates the market will start strengthening and reversing back UP. pic.twitter.com/Q4huCX0dKY — Trader Tardigrade (@TATrader_Alan) March 5, 2025 A Dragonfly Doji occurs on a candlestick chart when a security’s open, high, and close prices are virtually the same. The most distinctive feature of the Dragonfly Doji is its long lower shadow, which represents a significant sell-off during the trading period followed by a strong rebound that returns the price to its opening level. This pattern suggests that selling pressure was overcome by buying pressure, a sign that could indicate a bullish reversal if it occurs after a downward trend. In the case of Dogecoin, this pattern was identified at the end of a declining price trend, which adds to its significance. Typically, the appearance of a Dragonfly Doji at the bottom of a downtrend is watched closely by technical analysts and traders as it may suggest that the market is bottoming out and that a reversal to the upside could be imminent. Drivers and Impacts of Dogecoin’s Dragonfly Doji The presence of a Dragonfly Doji in Dogecoin’s price chart is particularly noteworthy given the volatile nature of the cryptocurrency markets. This technical indicator is often seen as a potential sign of a shift in market sentiment from bearish to bullish. For Dogecoin, a digital currency influenced heavily by retail investor sentiment and social media, such signals are crucial indicators that can precede significant price movements. Technical analysis suggests that following the appearance of a Dragonfly Doji, traders and investors might expect an uptick in buying activity, assuming other market conditions remain favorable. This could lead to an increase in Dogecoin’s price, offering a strategic entry point for those looking to capitalize on the expected upward movement. While technical patterns such as the Dragonfly Doji play a significant role in trading decisions, external market factors can also influence the effectiveness of such indicators. For Dogecoin, market sentiment can be swayed by a range of factors, from developments in the broader cryptocurrency ecosystem to specific news related to Dogecoin itself, such as endorsements by high-profile individuals or changes in its underlying technology. Additionally, market dynamics, such as changes in trading volume and liquidity, also play critical roles in determining whether a technical signal like the Dragonfly Doji will translate into an actual reversal in price trends. Increased buying pressure following this pattern would be necessary to confirm the bullish signal and drive up prices. As the cryptocurrency market continues to evolve, keeping an eye on technical indicators like the Dragonfly Doji, along with broader market trends, will be crucial for those looking to make informed trading decisions. For now, Dogecoin enthusiasts and investors will be watching closely to see if the bullish reversal is confirmed, potentially leading to further gains in the market value of Dogecoin.

$BTC dominance of total open interest has been trending higher since December. This shows that speculative capital is favoring $BTC over altcoins at the moment. In other words, risk-off.

Stacked True Opens Ever wonder why your sequential SMTs or PSPs fail? It’s likely because you’re not implementing stacked true opens. - SSMT/PSP in Bearish Scenarios: Must form above at least two true opens. - SSMT/PSP in Bullish Scenarios: Must form below at least two true opens. Timeframe Hierarchy & Requirements: 1. 90-Minute SSMT/PSP: - Must form above the 90-minute cycle’s true open and the microcycle’s true open (bearish). - Must form below the 90-minute cycle’s true open and the microcycle’s true open (bullish). 2. 15-Minute SSMT/PSP: - Must align with the daily cycle’s true open and the 90-minute cycle’s true open. 3. 1-Hour SSMT/PSP: - Must align with the weekly cycle’s true open and the daily cycle’s true open. 4. Monthly SSMT/PSP: - Must align with the monthly cycle’s true open and the weekly cycle’s true open. 5. Yearly SSMT/PSP: - Must align with the yearly cycle’s true open and the monthly cycle’s true open. Note: This isn't the holy grail. There are other things to consider. I'll be posting about them soon.

@Dune 1/ How does governance work in Arbitrum DAO? It consists of 4 key stages: 🔹 Open Discussion: Initial community feedback. 🔹 Snapshot Vote: Temperature check on sentiment. 🔹 Onchain Voting: Delegates vote casting on Tally. 🔹 Implementation: Proposal execution.