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Bitcoin (BTC) witnessed a spike in open interest – a surge of almost 2.02 billion.
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BTC broke the $70,000 level in the recent trading session heading in the upward direction.
Bitcoin open interest surged to the level of $2.02 Billion in last three days. Traders and analysts are highlighting potential volatility with an open interest surge.
A famous crypto trader ‘Daan Crypto Trades’ highlighted in his X post that Bitcoin open interest is increasing and reached 2.2 billion which is ~12% of total open interest.
#Bitcoin Quite the run up in Open Interest over the past 3 days.
A +$2.2B increase which is about ~12% of total open interest.
Price went up +5.5% during this time so there’s definitely a lot of additional positioning going on as price tries to move higher.
Volatility likely. pic.twitter.com/YuJN24TwAW
— Daan Crypto Trades (@DaanCrypto) June 5, 2024
Moreover, Daan added “Price went up +5.5% during this time so there’s d
We współpracy z: https://www.thecoinrepublic.com/2024/06/06/bitcoin-open-interest-surge-igniting-the-traders-concerns/
