Bitcoin · 2026-09-22

That day's trend: Neutral

That day's view: Yesterday BTC opened at 86620 and closed at 86208 (-0.48%), intraday range 85114. Volume 21328 BTC, +19.4% vs 7-day average of 17861, moderate volume increase. Funding rate rose from 0.766% to 1.000% peak in early session, then as price dipped to 85324 it crashed to 0.102% at end of day (-87% intraday), open interest simultaneously decreased from 109189 to 106720 (-2.26%), price ↓ + OI ↓ + funding sharp drop at end → (c) short covering textbook. Greed index 78 maintains extreme greed (V1.3 phase new high), short-term key levels 85300, 85000, 91000, watch 9/25 Deribit September options expiry (~$40 billion notional).

Key Data

BTC closing price: UTC 2026-09-22 00:00 at $86620.01, UTC 2026-09-22 24:00 at $86133.40, -0.48% within window
Intraday range: High $86717.60 / Low $85114.00, range $1603.60 (1.85%)
24h total network volume: 21,328 BTC (~$1.834 billion)
Perpetual funding rate: 4-period average +0.00537% (09-22 00:00 +0.00766% / 09-22 08:00 +0.01000% / 09-22 16:00 +0.00278% / 09-23 00:00 +0.00102%)
Active taker buy/sell ratio: 24h average 0.8999, latest 1.0976
Long/short account ratio (retail): 24h average 0.9077, latest 0.9037
Large account position long/short ratio: 24h average 2.1760, latest 2.1040
Open interest (OI): 24h net -2.26%, currently 106,720 BTC
Perpetual basis: stable in -0.05% to +0.05% range
Fear & Greed Index: 2026-09-22 reading 78 (Neutral)

24H Market Recap

Phase · Early (UTC 00-06): Opened $86620.01 → $85397.37, -1.41%, 6h volume 5,059 BTC.
Phase · Late Morning (UTC 06-12): Opened $85397.38 → $85986.62, +0.69%, 6h volume 5,085 BTC.
Phase · Afternoon (UTC 12-18): Opened $85986.62 → $86570.24, +0.68%, 6h volume 6,954 BTC.
Phase · Close (UTC 18-24): Opened $86570.24 → $86208.56, -0.42%, 6h volume 4,230 BTC.

Future Macro Calendar

🟡 2026-09-25 (Fri) · BTC September Options Expiry (Deribit) · Impact: Medium

Long/Short Positioning

Phase 1 (UTC 00-06) single-phase sharp drop -1.41% + concentrated volume 5,059 BTC | Touched window low $85114.00, typical "concentrated selling pressure triggered by bearish event" pattern
OI 24h net -2.26% long and short simultaneous deleveraging | OI net -2,469 BTC decrease, both long and short sides actively reducing positions, typical deleveraging state
Active selling 24h average 0.8999 < 1.0 seller主导 | Taker consistently seller-advantaged, although close 1.0976 buy-side returned but price failed to show effective rebound
Phase 2 (UTC 06-12) single-phase rebound +0.69% + volume 5,085 BTC | Touched window high $86717.60, typical "technical rebound after bearish event" pattern
Large account position L/S ratio 24h average 2.18 institutional mildly bullish | Large account L/S 24h average 2.18 / close 2.10, showing institutions maintained mildly bullish stance within window
Active buying close 1.0976 > 1.0 buy-side returned | Close taker buy-side returned, showing market has buying support near $85114.00