11 hour ago
1 0
Bitcoin Open Interest Rises 2% Amid Surge to $90,000
Recent data indicates traders have initiated new positions in the Bitcoin perpetual futures market, predominantly long bets.
Key Insights
- The Bitcoin Open Interest has increased from 304,000 BTC to 310,000 BTC, marking a 2% rise. This suggests traders are opening new positions following Bitcoin's price recovery to $90,000.
- The Open Interest metric alone does not specify the bias of these positions (long or short).
- The Funding Rate, another indicator, has been positive recently, indicating a bullish sentiment among traders.
- The Funding Rate rose from 0.04% to 0.09%, suggesting an increase in leveraged long positioning as traders anticipate further upward movement by year-end.
Current BTC Price
Bitcoin has slightly retracted to $89,500 after previously surpassing $90,000.
