Bitcoin’s current open interest has reached its lowest since BTC was around $59,000, signaling hesitation among retail traders. This decline suggests many traders have chosen to sit on the sidelines.
Historically, significant price moves often occur when interest is low, as cautious investors wait for the next big signal.
As Bitcoin enters a potentially pivotal week with the end of earnings season and U.S. elections just less than two weeks away, some believe BTC’s next direction remains uncertain, though recent trends have leaned upward.
Source: Trading View
Since early September, Bitcoin has moved within an upward trend, with October forming a large continuation pattern. This consistent movement raised questions among analysts about whether BTC would sustain this climb.
The Natural Course for Bitcoin
Some suggest that the natural course for Bitcoin remains upward, and that the only window for uptrends may appear after elections.
BTC has stayed above its main resist
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